Our election manifestos for the Town elections of 2003 and 2007 declared that 'HRG would not increase Council Tax at greater than the rate of inflation over the four year Council cycle.' We have proudly delivered on this promise for the two election cycles – despite, in the cycle 2007 to the present time suffering a battering from the global credit crunch and recession. Hence, during the period 2003-2009 residents have only experienced an increase of 9.9% when inflation has been running well in excess of this figure. This has not been achieved by luck but by a well defined financial strategy which has allowed us to maintain essential town services for which we are responsible and sustain a capital expenditure programme for the future development of the town.

  Our strategy has been clear and transparent:

   - to deliver our manifesto promise.

   - to maintain our investments in the long term at £4.5m-£5m but realise that in the   
     short term there could be some managed decline outside the range due to the falls
     in World Stock Markets.

   - to use our investments to provide dividends C£160k to support the Council Tax.

   - to produce balanced budgets.

   - to manage the capital expenditure programme at C£80k per annum to produce
     development of the town’s infrastructure but at such a level that we do
     not have to plunder the town’s financial investments, thereby exacerbating their
     further decline.

   - to maintain positive cash flow.

   - to have an ethically defined approach to paying our creditors.

HRG has the trust of the electorate of Henley-on-Thames as shown by our election record. HRG is delivering an ongoing, pragmatic and managed financial strategy that is bringing Henley-on-Thames through the worst recession since 1933. We can proudly state that our residents have not been burdened by increased Council Tax demands due to Town Council spending. We shall continue to deliver for the families of Henley.