Barnet Group's five-year financial plan has been approved by the council's Cabinet, a move intended to bolster the council's broader financial sustainability goals.
The plan, which outlines financial strategies for the next five years, was endorsed at a Cabinet meeting held on Tuesday, July 21, 2026. The council's financial sustainability is a core principle underpinning its Corporate Plan, with efforts focused on identifying the root causes of cost pressures, such as rising demand in temporary accommodation and social care, to secure the council's financial future by March 2029.
The Barnet Group is a holding company whose business plan was approved during the meeting. Its subsidiaries include Barnet Homes, which manages and maintains council housing stock and provides homelessness services; Your Choice (Barnet), a care and support provider for adults with learning disabilities and older people; Bumblebee Lettings, a sales and lettings agency; TBG Flex, an employment company for new starters; and Open Door Homes, a registered provider of social housing. Over 80% of the Barnet Group's revenue is generated from the council.
The approved Barnet Group Business Plan details financial strategies for the next five years. For the 2026/27 financial year, Barnet Homes and Your Choice (Barnet) are projected to achieve surpluses of just under half a percent. However, these are described as challenging budgets to achieve,
with slight contingencies built in. The overall Group Result for 2026/27 is a projected deficit of £68,000, with deficits also anticipated in subsequent years. The plan incorporates the business plans of all group companies, including annual operating revenue, capital expenditure requirements, balance sheet forecasts, and financial strategy plans.
Further details on the financial plan are expected to be released in subsequent reports. The meeting agenda and public reports pack, available online, provide additional context for the decisions made.
