Cornwall Council has revealed it is set to fall short on financial savings by more than £11.5 million. The council had aimed to make savings of £34.73 million in 2018/19, but its current forecast shows it will only achieve £23.21 million.
With about five months left of the financial year, there is no guarantee that the gap will not increase. A council performance report going to the cabinet next week indicates the savings target is now considered to be red as a result of the shortfall.
In other news, a report going to Cornwall Council's cabinet on Thursday recommends the council submits a bid to host the first stage of the Tour of Britain cycle race in 2020. Three possible routes have been identified, with the preferred one taking riders from Penzance to Bodmin.
The decision on the route will have to be agreed by Cornwall Council and race organisers SweetSpot. Next week the cabinet will be asked to approve a budget of £345,000 to underwrite the core costs of hosting the event and to appoint a manager to attract sponsors. The report estimates an extra £3.4 million could be generated for the economy.
