The report will be considered by the council’s finance & resources committee at their meeting on Thursday before being referred to Full Council on May 27, when political groups are expected to submit motions setting out their proposals for investment.

In February, the council set a balanced budget for 2021/22, addressing and shaped by the key priorities of the Council Business Plan – tackling poverty, promoting sustainability and enhancing residents’ wellbeing.

Following confirmation by the Scottish Government of additional funding for local authorities and, after making provision for the anticipated on-going financial impacts of the pandemic over the next two years, Council officers have now identified up to £20.15m which could be made available to address budget pressures, anticipated shortfalls in savings delivery and other member priorities in 2021/22 and 2022/23.

Councillor Rob Munn, finance and resources convener, said: “We were very pleased to have been able to set a balanced budget back in February despite the ongoing challenges and pressures brought about by the Covid-19 pandemic. It’s welcome, therefore, to now have this opportunity to invest further in this financial year and the next and I’m looking forward to a thorough and, I hope, constructive debate among elected members over the next couple of weeks on the best ways to direct this funding. Ultimately, we want to ensure we’re targeting the extra investment in line with our core priorities and the services most valued by the people of Edinburgh.”

Councillor Joan Griffiths, finance and resources vice convener, added: “I’m sure this opportunity to collectively agree priorities for investing this funding will be unanimously welcomed across the chamber. Committee will have its say on 20 May first of all and thereafter it’s over to the full complement of Councillors to arrive at a set of agreed spending options which support our priorities - tackling poverty and inequality, boosting sustainability and enhancing wellbeing in the city. I’m confident we’ll be able to approve a revised budget framework that takes Edinburgh forward positively.”