Budget Consultation 2025-26

Introduction  

Tower Hamlets Council wants to hear from residents, businesses and community organisations as we work to set the Budget for 2025-26. 

As part of setting the 2025-26 budget, the council is carrying out a consultation.

Like many others, Tower Hamlets Council is facing challenging financial circumstances. The cost-of-living crisis is squeezing our budgets as we face inflation in energy, food, and staff.

At the same time, many more people need our services and our help. On top of that, the money we get from central government has been cut for many years.

What we are doing  

In 2024-25 the council is set to spend £1.5 billion on public services to support people and improve lives. Almost half of our budget is spent on supporting children and vulnerable adults.  

The Council has worked hard to make over £250m in savings since 2010, in the face of budgetary cuts by central government and additional demand.

The Council has agreed to make new savings of over £43m over the next year three years.

Despite the financial challenges, increases in the number of vulnerable residents, and a growing population, we are proud to continue our investment in frontline services and we have the sixth lowest council tax in London.

How we are managing the financial challenges

The council has made several tough choices to minimise the impact of disruption on those services residents have told us that they rely on the most.  

We have reduced our running costs and been more efficient in how we deliver services, including in reshaping our workforce.

We must make the most of the money we have, as well as continuing to look at innovative ways to invest to save in the long-run and generate income. 

This consultation is your chance to get involved in the budget conversations, and to help us shape the future for all in Tower Hamlets.