Councillor Craig Browne, deputy leader and leader of the Independent group, said it was one of the “most challenging periods in which this council has operated”.
He said the council raised £150m in business rates but only gets to keep £50m of that as the remainder goes to the government.
He said if the council did have that £100m it would cover the projected growth in spending and demand for services.
Mr Browne also spoke about a public consultation on the budget.
“While the consultation isn’t a referendum and we’re not in a position to be all things to all people, we can say we’ve listened,” he said.
He also said some other ideas mentioned in the consultation process – including cuts to bus subsidiaries and an idea to move to three weekly black bin collections – would not be considered due to those responses.
