Medium Term Financial Strategy (MTFS) 2020/21 - 2024/25

The council has launched a strategic approach Making Gateshead a Place Where Everyone Thrives, developed with the council's purpose and beliefs in mind, along with what matters most to the people of Gateshead. This approach provides a framework to demonstrate how the Council will work and make decisions in the future which will be policy and priority-led.

Making Gateshead a Place Where Everyone Thrives is aligned to the timeframe of the council's Medium Term Financial Strategy (MTFS) and is predicated on the following council pledges:

• put people and families at the heart of everything that we do
• tackle inequality so people have a fair chance
• support our communities to support themselves and each other
• invest in our economy to provide sustainable opportunities for employment, innovation and growth across the borough
• work together and fight for a better future for Gateshead

The MTFS is central to identifying the council's resource capacity to deliver its priority outcomes it reflects:

• the council's current financial position and outlook.
• the council's overall financial strategy, including use of reserves.
• internal and external pressures which may influence the council's financial position

There are huge financial pressures on not just council resources, but those of partners, local businesses and residents. To deliver on the new strategic approach over the next five years, the council will need a radical rethink about how it works and key priorities, how resources are spent, how the council works with partners, organisations, businesses, trade unions, employees and the local people and communities of Gateshead.