Investments

Strong financial management over many years means that we are still able to make a number of important capital investments to create a better borough.

Not only do our investments deliver social benefit, such as the quality rental ‘homes for life’ enjoyed by local families through our housing initiatives, Nuplace and Telford & Wrekin Homes. They also generate significant income for the council, enabling us to maintain vital front-line services.

Cleaner and well-maintained

• Over £31m for transport and highways schemes, to ensure roads and footpaths are clean and well maintained and people can travel around the borough safely.

Greener

• £1.17m for Environmental Improvements/ Enhancements including things like our parks, local nature reserves and green guarantee sites.

• £2.19m for Climate change initiatives to support work to reduce the Council’s carbon footprint and partnering with government and others on other climate change projects. 

More enjoyable

• £8.7 million pounds for a new swimming pool to support health and wellbeing.

Homes

• Over £100m investment to expand Nuplace and Telford & Wrekin Homes, providing further high-quality homes for local people to rent from a responsible and responsive landlord.

• To date, Nuplace has created 485 homes right across the borough, generating a cumulative net incremental income of £9.7m to the council since 2015/16, which is being used to help vital frontline services.

• £9.7m for affordable and specialist housing programmes.

• Over £10.8m for a range of housing initiatives, including affordable warmth, empty properties, rough sleeper, disabled facility grants and temporary accommodation.

Highstreets

• Over £2.7m for Pride in Your High Street schemes which help local business owners with things like grants for new business start-ups and improving shop façades.

Jobs and opportunity

• Over £65m to support further Growth Fund initiatives bringing new jobs to the borough. The Growth Fund has already helped to fund new industrial units at T54, space for new businesses at Hortonwood West and Ni.Park (a new employment park in Newport) and has enabled many new job opportunities in the borough.

• Over £40m for education projects including investment in school expansion projects to increase pupil places.

• Over £35m for Towns Fund projects to enhance local infrastructure and amenities.

• Over £37m for “Levelling-Up Fund” and Capital Regeneration Fund projects, which will foster economic development and community revitalisation.

Borrowing

• We spend less of our budget than most similar councils on the costs of borrowing.
   
• Much of the money we borrow is invested into things like houses and industrial units, giving people quality local homes with a responsible landlord and providing industrial units that enable employers to offer jobs.
   
• The investment also generates money for the council as buildings and land increase in value over time. When people pay their rent, the profit is used to support front-line services such as care and support for older people. 
   
• At the end of last financial year, our land, buildings and investment in Nuplace were valued at £620 million pounds. This is equal to just under twice the amount of total debt outstanding which stood at £347 million pounds, meaning a loan to asset ratio of 56 percent.

Download the full budget papers

Consultation

To share your feedback on these proposals, please email yourviewsmatter@telford.gov.uk by 4 February 2024.

This consultation period has now ended.

Last updated: 01/08/2024 00:22