Agenda item

Joint report of the Commissioner of Police and Police Authority Treasurer

The Board received a report of the Commissioner and PA Treasurer covering the medium-term financial plan update for 2024 – 2025.

During the discussion the following points were noted:

- The spending review settlement is still unknown.

- There is a £10m inflationary pressure, 70% of which has been mitigated by improved cost recovery and other measures, but there is a £2.9m residual deficit. It is hoped that this will be covered by seeking an increased business rate premium allocation.

- The revised officer pension scheme has increased the employer contribution from, 31% to 35.3% which has led to a 12% increase in the unit cost of officers in a 12-month period. The Home Office is making £260m additional funding available for this grant.

- The City of London Police ask is for an increase in the allocation of BRP and it will be for the Corporation to determine if the overall BRP should be increased. The Chamberlain (as Police Authority Treasurer) is supportive of an increase subject to City of London Police ability to demonstrate improved recovery of National costs and assurance that local taxpayers are not subsidising this work.

RESOLVED, that – the report be noted.