On this page you can find out how we set our budget and read our spending plans for the current financial year.
London Borough of Newham - Building a Fairer Newham Budget 2023/24 Cabinet Report
Setting the budget
Our budget is set by a meeting of the full council in February/March each year. A budget report is prepared by our officers and sent to the meeting to be approved.
The report sets out:
- The financial background to the budget
- How the budget supports the New Deal for residents
- The budget strategy and financial objectives
- Our budget
- Growth and budget pressures (our spending commitments that have been agreed by Full council)
- Savings plans
- Central Government funding
- Emerging pressures and risks (the pressures and risks which could affect our future spending)
- The medium term financial strategy for the next two years (we adopt a medium term approach to our budget to allow us to plan ahead over a two year period)
- Council Tax setting
- Balances and reserves
- Our capital programme for the next three years
- The Housing Revenue Account and rent changes.
Budgets are agreed with the aim of making residents' lives better.