Medium-Term Financial Strategy
Councils are currently addressing significant budget gaps and financial pressures through their medium-term financial strategies.
Wandsworth Council is proposing a 94% Council Tax hike for 2027/28 as part of its Medium-Term Financial Strategy, due to a projected 40% reduction in general grant funding from the government by 2029/30, as discussed in October 2026. Newham Council is also facing a projected budget overspend of £6.17 million for the current financial year, according to a report in September 2026.
To address financial challenges, Tower Hamlets Council approved a 15-year lease in September 2026, expected to generate £625,000 annually. Ealing Council approved its budget and medium-term financial strategy in February 2026, including plans for £20.5 million in savings and revenue growth. Hounslow Council's future scrutiny priorities include its medium-term financial strategy.
A Medium-Term Financial Strategy is a council's multi-year financial plan outlining its direction and management. Councils use these strategies to manage ongoing financial pressures, such as reduced government funding and increased demand for services, and to plan for future financial sustainability.
Key facts
- Wandsworth Council is proposing a 94% Council Tax hike for 2027/28 to address a significant budget gap. Source
- Wandsworth Council faces a projected 40% reduction in general grant funding from the government by 2029/30. Source
- Tower Hamlets Council approved a 15-year lease in September 2026 expected to generate approximately £625,000 per year. Source
- Newham Council is facing a projected budget overspend of £6.17 million for the current financial year. Source
- Ealing Council approved plans for £20.5 million in savings and revenue growth over the period up to 2029/30. 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 9 October 2026. Spotted a mistake? Email community@opencouncil.network.