Medium Term Financial Strategy
Councils are addressing significant budget gaps and financial pressures through their Medium Term Financial Strategies.
Wandsworth Council's Cabinet decided in October 2026 to end its Borough of Sanctuary programme, part of its Medium Term Financial Strategy to address a significant structural budget gap due to reduced government funding and rising demand. Richmond Council projects a £19.3 million budget gap for 2027/28, as detailed in its medium-term financial strategy in September 2026, with Councillor Jim Millard highlighting the unprecedented financial challenge.
Wandsworth Council was considering a council tax rise in July 2026 to balance its budget, citing loss of government funding and depleting reserves in a report to Cabinet. Greenwich Council faces a projected £100 million funding gap by 2030, with its Medium Term Financial Strategy indicating substantial budget gaps, as discussed by Councillor Denise Hyland in March 2026. The topic is scheduled for discussion at Greenwich's Overview and Scrutiny Committee on 15 October 2026 and Sutton Council on 19 October 2026.
A Medium Term Financial Strategy is a council's financial plan, outlining projected income and expenditure, budget, savings, and priorities over a medium-term period, typically three to five years. In July 2025, Lewisham Council's Audit and Risk Committee noted budget challenges partly due to a delay in finalising its Medium Term Financial Strategy.
Key facts
- Wandsworth Council's Cabinet decided in October 2026 to end its Borough of Sanctuary programme as part of its Medium Term Financial Strategy. Source
- Richmond Council projects a £19.3 million budget gap for the 2027/28 financial year. Source
- Wandsworth Council was considering a council tax rise in July 2026 to address significant financial pressures. Source
- Greenwich Council faces a projected funding gap of approximately £100 million by 2030. Source
- Lewisham Council's Audit and Risk Committee noted in July 2025 that a delay in finalising its Medium Term Financial Strategy was a key concern. 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 14 October 2026. Spotted a mistake? Email community@opencouncil.network.