Torridge District Council is proposing to increase council tax for the third year in a row.

TDC’s community and resources committee is being asked to propose a £5 increase per Band D property for 2018/19 at its meeting on Monday.

If members agree, the decision will still have to be approved by the full council at its special budget meeting on February 26 before it is set in stone.

The £5 increase represents a 3.25 per cent increase, from £153.66 to £158.66 per year for a Band D property in the district.

According to a report to the council, any additional revenue will be directed to ‘economic regeneration’.

Last year TDC increased council tax by £5 per Band D property (3.6 per cent) and in 2016/17 it approved a 1.99 per cent increase.

In the report, Councillor David Hurley, deputy leader, said: “Whilst it is always difficult to recommend and justify a decision to increase the council tax in any year, it is my opinion that small yearly increases are referable to sporadic much larger increases.

“It is now clearer than ever that in the relaxation of Government controls it is recognised that there is no additional money at a national level to plug the growing financial gap in providing services locally and the importance of council tax grows year on year.”

Councillor Hurley said TDC was in a ‘good financial position’ compared to other councils and that he would support the recommendation of increasing council tax for 2018/19.