Council budgets

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 res​idents
  • 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.