medium-term financial strategy
Councils are addressing budget overspends and shortfalls, while others approve strategies to improve financial resilience.
Newham Council is facing a projected £6.17 million budget overspend for the current financial year, primarily in Adults & Health and Children & Young People's Services, as reported in September 2026. In contrast, Tower Hamlets Council approved a 15-year lease in September 2026, expected to generate approximately £625,000 annually and reduce financial liabilities. Hounslow Council's Overview and Scrutiny Committee also noted in September 2026 that the medium-term financial strategy will be a future scrutiny priority.
Ealing Council approved a 'no-cuts' budget in February 2026, including £20.5 million in savings and revenue growth over several years. Islington Council's financial resilience was praised in February 2026, with a balanced budget for 2026/27 achieved without using reserves. However, Bromley Council projected a £58.9 million budget shortfall by 2026/27 in October 2025, while Haringey Council launched a consultation in November 2025 to address its significant budget gap.
A medium-term financial strategy is a multi-year plan outlining a council's financial direction and management. Other councils have also faced financial pressures, with Croydon Council balancing its 2024-25 budget in July 2025 using £67.9 million in one-off reserves despite a £29.2 million overspend. Newham Council considered using its housing fund outside the borough in July 2025 due to financial pressures and a Best Value Notice related to its strategy.
Key facts
- Newham Council is facing a projected budget overspend of £6.17 million for the current financial year. Source
- Tower Hamlets Council approved a 15-year lease in September 2026, expected to generate approximately £625,000 per year. Source
- Hounslow Council's Overview and Scrutiny Committee noted in September 2026 that the medium-term financial strategy will be a future scrutiny priority. Source
- Ealing Council approved its 2026/27 budget and medium-term financial strategy in February 2026, including £20.5 million in savings and revenue growth. Source
- Islington Council's financial resilience was praised in February 2026, with a balanced budget for 2026/27 achieved without drawing on reserves. 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.