Blackpool Tower boosts town hall finances

Town hall bosses say revenue from the Grade I listed landmark, which the council owns, has helped reduce overspending in 2021/22.

Director of resources Steve Thompson told a meeting of the executive the overspend had previously been predicted as £7.1m but this figure had reduced to £5.6m.

He said: “The main contribution has been treasury management, and the performance of Blackpool Tower over the last season and the outturn results were reported after the calendar year end.”

Detailed figures for revenue at the Tower are kept under wraps because the council shares income with operator Merlin.

But Blackpool enjoyed a boom season in 2021 with footfall on the seafront and Promenade more than 60 per cent ahead of pre-pandemic levels in July and August, and 75 per cent ahead for the Illuminations season which was extended until the beginning of January.

Of the £5.6m overspend, £3.7m is related to Covid, but Mr Thompson said the council’s financial situation was nevertheless “encouraging” with 99 per cent of the £20m of savings required in 2021/22 now achieved.

Losses among the council’s companies which include the Winter Gardens, Sandcastle and Blackpool Transport had improved to £1.1m, compared to a £5.6m forecast at the start of the last financial year due to lockdown.

The executive also agreed the budget for 2022/23 which sets out spending on services of £160m and savings of £8.6m which will now go to the full council for approval.

A three year capital spending programme totalling £263.5m was also agreed with the main schemes being the third phase of the Talbot Gateway which includes new civil service offices, projects within the Town Deal and construction of 131 houses at Grange Park.

Mr Thompson said this year’s budget had been one of the “most difficult” to compile but it was a “sustainable and realistic budget that will be delivered.”

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