Medium-Term Financial Strategy (MTFS) for 2027-2032
Barnet Council's Cabinet is discussing strategies, including a potential tax hike, to address a projected £113.5 million budget shortfall for 2027/28.
Barnet Council's Cabinet met on October 12, 2026, to discuss its financial sustainability plan and the Medium-Term Financial Strategy for 2027-2032. Councillor Simon Radford, Cabinet Member for Financial Sustainability, presented a plan outlining strategies to tackle a projected budget gap of £198 million by 2029/30. The council is seeking to implement a tax hike to address a projected budget shortfall of £113.5 million for the 2027/28 financial year.
The plan aims to achieve a balanced budget by March 2029 and establish sustainable financial management capabilities. Key strategies include prevention, progression, productivity, service and asset review, and income generation. The Medium-Term Financial Strategy is a financial planning document detailing projected budget gaps and proposals for savings and income generation for the period 2027-2032.
Key facts
- Barnet Council's Cabinet met on October 12, 2026, to discuss its financial sustainability plan. Source
- Barnet Council is seeking to implement a tax hike to address a projected budget shortfall. Source
- The projected budget shortfall for the 2027/28 financial year is £113.5 million. Source
- A projected budget gap of £198 million is anticipated by 2029/30. Source
- The plan aims to achieve a balanced budget by March 2029. 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.