Cabinet Member for Finance and Community Wealth Building
Lambeth Council's Cabinet Member for Finance and Community Wealth Building is addressing significant financial challenges, including a projected £93 million budget gap.
In July 2026, Lambeth Council's Cabinet Member for Finance and Community Wealth Building, Councillor Zvikomborero Chihoro, presented an early year-end forecast to the Cabinet, revealing a projected £11 million overspend for the current financial year. The Cabinet discussed this financial position, which also included a cumulative budget gap exceeding £93 million over the next three years.
The Cabinet Member for Finance and Community Wealth Building is also addressing the risk to 21 savings schemes, which a report to the Cabinet in July 2026 indicated could create an £18.157 million gap. Councillor Chihoro attributed the overspend to pressures in temporary accommodation and income shortfalls in growth and environment services.
Key facts
- Lambeth Council faces a projected £11 million overspend for the current financial year, as presented in July 2026. Source 1 Source 2
- A cumulative budget gap exceeding £93 million is forecast for Lambeth Council over the next three years, discussed in July 2026. Source 1 Source 2
- 21 savings schemes are at risk of not being delivered, potentially creating an £18.157 million gap in council finances, reported in July 2026. 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.