That

1.  The issues and risks associated with updating the Medium-Term Financial Strategy be noted;

2.  The assumptions described in the report for planning purposes and to establish the remit for detailed budget development, and together with the additional information provided at Appendix 2, which shows the effect of 0% council tax increase on the four scenarios presented, be approved;

3.  It be noted that Lead Members on the Executive, together with Officers and Members of Policy Advisory Committees, will carry out a detailed review of initial budget proposals. The purpose of this review will be to identify possible savings required to eliminate budget gaps; and

4.  The proposed approach outlined to development of an updated Medium Term Financial Strategy for 2023/24 – 2027/28 and a budget for 2023/24 be approved.