Council’s Budget of a Million and a Fifth - 1926

 GOVERNING SWANSEA

Council’s Budget of a Million and a Fifth

The South Wales Daily Post reports in July 1926 that Swansea’s municipal accounts for the year ending 31 March 1925 have been issued in their customary form, accompanied by the Borough Treasurer’s epitome — a document offering ratepayers a clear and authoritative view of the town’s financial position as it strides into the mid‑1920s.

With a population of 162,700 and a ratable value of £892,679 (≈ £70.4 million in 2026) — an increase of more than £103,000 since 1923 — the Corporation’s undertakings reveal the scale of civic ambition. Swansea has invested:

• £1,370,253 (≈ £108 million in 2026) on its waterworks,

• £741,465 (≈ £58.5 million in 2026) on its electricity scheme,

• £13,708 (≈ £1.1 million in 2026) on its tramways,

• £611,204 (≈ £48.2 million in 2026) on schools and colleges.

The town administers 24,193 acres, maintains 164 miles of roads, and oversees a civic estate valued at £20,000 (≈ £1.58 million in 2026), with the Market site assessed at the same figure.

Ratepayers will observe with interest that the rate per pound has fallen since 1923 — from £5 16s to 5s. 1d. — a reduction made possible by the rise in ratable value. Meanwhile, Swansea’s population has surged dramatically, from 19 per 1,000 in 1921 to 425 per 1,000 last year, a striking indicator of the town’s rapid growth and expanding responsibilities.

The Corporation’s financial obligations remain considerable. Loans raised amount to £5,160,523 (≈ £407 million in 2026), with repayments totalling £1,454,609 (≈ £115 million in 2026), leaving a balance of £4,071,693 (≈ £321 million in 2026) — effectively the Corporation’s debt.

The total cost of governing Swansea stands at £1,227,137 (≈ £96.8 million in 2026). Of this, £226,807 (≈ £17.9 million in 2026) is derived from income, and £313,121 (≈ £24.7 million in 2026) from government grants, leaving a net rate expenditure of £628,159 (≈ £49.5 million in 2026).

Together, these figures present a succinct yet comprehensive portrait of Swansea’s civic finances during a period of marked expansion and modernisation.