Herts County Council have released the following statement on their finances after estimating a shortfall of £23.5m for 2022-23.

Like all organisations across the country, the ongoing impact of increasing inflation has added significantly to the pressures on Hertfordshire County Council's budget. The latest forecast of council finances estimates a shortfall of £23.5 million for 2022-23 and ongoing pressures for future years – despite having set a balanced budget for the next two years as recently as February.  

It's costing a lot more to simply provide our services at current levels. For example, the bill to keep streetlights on has increased by 60%, that's an extra £2.3 million a year just to keep the lights on after dark.

The Council's Resources and Performance Cabinet Panel will be asked to discuss the financial report, which notes options to make 'in year' efficiency savings and use some of the council's contingency and reserves to bridge the gap this year.

The pressures being seen today have been caused by soaring inflation affecting the whole economy, resulting in greatly increased costs alongside high post Covid demand for key services such as supporting children with special educational needs.

The war in Ukraine and Russia restricting gas supplies means that global uncertainty is having a huge impact close to home. For months now the financial health of the County Council has been closely monitored and this will continue.

See Nub News shortly for reaction form, Richard Roberts, Leader of Hertfordshire County Council