Merton Council Launches Business Engagement Initiative for 2025/26 Budget Planning

In a significant move towards collaborative governance, Merton Council has announced an innovative approach to budget planning by inviting local businesses to participate in shaping the council’s financial strategy for 2025/26. Council Leader Ross Garrod is spearheading this initiative, which aims to create a more inclusive and responsive budgeting process for the upcoming financial year.

The council has scheduled a crucial meeting for February 3, 2025, at 6 PM at the Merton Civic Centre, with a flexible attendance option available through Microsoft Teams. This hybrid format ensures maximum participation from the business community, acknowledging the diverse needs of local entrepreneurs.

The comprehensive consultation will cover several critical areas affecting the local business ecosystem. Key focus points include strategic investments in town centres and high streets, measures to bolster Merton’s local economy, and strategies to address the ongoing cost of living crisis that continues to impact local businesses. Additionally, the council aims to maintain Merton’s reputation as one of London’s safest boroughs, understanding that security plays a vital role in business prosperity.

A significant portion of the meeting will be dedicated to discussing the government’s proposed reforms to business rates, as outlined in the Autumn Budget 2024’s ‘Transforming Business Rates’ paper. This timely discussion comes as businesses navigate through various economic challenges, including rising operational costs and fluctuating energy bills.

Councillor Ross Garrod emphasized the crucial role of local businesses in the borough’s development, stating that they are instrumental in maintaining vibrant high streets and generating employment opportunities. The council acknowledges that these businesses are fundamental to making Merton an attractive place for residents, workers, and visitors alike.

The feedback gathered during this consultation will directly influence the final council budget, scheduled for approval by Full Council on February 26. This transparent approach to budget planning demonstrates Merton Council’s commitment to democratic governance and inclusive decision-making.