Minimum Revenue Provision (MRP) policy
Tower Hamlets Council's financial sustainability, which includes its Minimum Revenue Provision (MRP) policy for debt repayment, is a key concern for external auditors.
Tower Hamlets Council's financial sustainability, which encompasses its Minimum Revenue Provision (MRP) policy for setting aside funds to repay borrowing, remains a significant risk. External auditors Ernst & Young (EY) reported in September 2026 that four statutory recommendations and six significant weaknesses from previous years are still outstanding, and identified a new risk concerning the council's financial sustainability.
This assessment was presented to the Audit Committee in September 2026, which reviewed the external auditor's reports and the council's progress on addressing identified weaknesses. EY had previously indicated in July 2026 that an unmodified audit opinion for the council might not be achievable until 2029-30, due to ongoing financial and control environment issues.
Key facts
- Tower Hamlets Council's financial sustainability remains a significant risk, according to external auditors EY in September 2026. Source
- Four statutory recommendations and six significant weaknesses from previous years remain outstanding for Tower Hamlets Council as of September 2026. Source
- An unmodified audit opinion for Tower Hamlets Council might not be achievable until 2029-30, as projected by EY in July 2026. Source
- Tower Hamlets Audit Committee met on 24 September 2026 to review external auditor reports on financial sustainability. Source
About this summary
This summary was written automatically from our published stories and the council meeting records they draw on. It describes what councils have discussed and decided; it does not take a view on any decision. Each key fact links to the story it comes from. Updated 30 September 2026. Spotted a mistake? Email community@opencouncil.network.