On Tuesday, Watford Borough Council passed its budget for the next financial year.

Like all councils, we’re facing the prospect of losing all of our Government funding over the next three years – which means decisions have to be made.

Do we cut services and lower standards? Or do we think differently about the way we operate to continue providing high quality services and keeping our finances in order?

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We’ve decided to take a more entrepreneurial approach, to bring in the money we need to keep providing the services which residents tell us they value – great parks, a first class waste collection service, and a town that’s welcoming and family friendly.

This means we’re investing in property which will generate steady income year-on-year, we’re making the most of our assets, and we have an ambitious ‘Digital Watford’ programme to enable our residents to access more council services online.

Because our town’s finances have been managed well, we are also able to continue offering our Big Events programme, including the Big Beach, free fireworks, Big Skate ice rink and our festivals – Big Word Fest and Imagine Watford.

We’re also able to invest in our award-winning parks and open spaces, and we’re able to retain one of the best waste collection services in the country.

Our major projects are progressing well – our first business zone on the Health Campus will open this year, the intu extension is well underway, Cassiobury Park’s new paddling pools and hub will open this spring, and our museum has successfully been awarded lottery funding which could see the entire building refurbished, and give local youngsters the chance to learn about our town’s history and the natural environment.

Watford is a place people want to live and work – but this popularity brings challenges. Towns like ours either manage their growth or stagnate.

We need to get the infrastructure right to manage growth. But most importantly we will not allow our town to decline by opposing every big opportunity which brings jobs, homes and prosperity.