“Earlier this year I said that all indications were that we were turning a corner and we had successfully built stability back into the Council’s finances.
“Today’s announcements by the Commissioners further underlines this point. We are due to publish our latest monitoring report next Monday and all indications are that we are now balancing our budget. Given that at one point the deficit stood at £64m this is an incredible achievement.
“All of this has been achieved utilising our own financial resources. The Commissioners, our Chief Executive, her leadership team, my cabinet colleagues and indeed every member of staff at the Council have worked tirelessly to achieve what so many people thought unachievable.
“Of course this does not mean the lifting of strict financial controls, we will never again be complacent and we must continue with the energy and commitment we have shown to get us this far to further strengthen our finances and critically transform our services so they can move forward with confidence.”