29/10/2025
Update on Yeovil Town Council – Finance & Policy Executive Committee Tuesday 28th October 2025
I can confirm that no vote was taken last night on the recommendations relating to the Public Works Loan Board (PWLB) repayments for the Octagon Theatre — including any proposal for precept increases.
Instead, the committee agreed with my proposal to continue the good work already undertaken by Council officers and to focus on identifying alternative funding sources and repayment options.
A working group will now be set up to review all potential options, both for how the project is funded and how any future loan could be repaid. There is a deadline for this work, as any loan would need to be submitted early next year, but I’ll be ensuring that every possible option is explored within those timeframes.
This doesn’t remove the possibility of a loan (which will happen it just depends how much) or a precept increase, but I remain committed to delivering the Octagon project in line with the consultation outcome, ensuring the theatre is reopened without additional cost burdens on Yeovil residents.
It’s also important to note that while this decision holds off any Octagon-related rise, next year’s precept will still increase due to inflation and staffing costs linked to the wider devolution process.
However, I’ll continue to press for a fairer division of these costs across the whole of Yeovil, and will keep pushing for this as long as I serve as your councillor.