Newham Council Budget

Building a Fairer Newham Council Budget 2023/24

Newham Council is confronting the challenging financial environment facing all of us because of the Cost of Living Crisis, high inflation and increased costs.

Residents have been at the heart of shaping how the Council will spend its 2023/4 budget this year at a series of eight budget events attended by residents, partners and stakeholders. Over 170 people have already taken part in summit sessions with additional meetings taking place with key organisations representing the business, voluntary, community and faith sectors. See the release about the engagement.

The Council’s Building a Fairer Newham Budget Plan 2023/24 builds on the robust and successful management of the Council’s finances over the past 4-years to protect frontline services, support residents and respond to growing demand.

That’s why the Council is managing every single penny and pound to best meet the needs of our borough and we want to hear from you.

We have organised Budget Summits for people to learn about key spending and saving proposals for the next 2023/24 financial year, including what our plans will mean for you and your family. 

While these have now taken place, you can view the  presentation which provides further information (PDF)

Our Building a Fairer Newham Budget Plan 2023/24 set out our saving and growth plans.

Building a Fairer Newham Budget Plan 2023/24

The 2023/24 Budget Plan has been developed over the past few months by Mayor Fiaz and her Cabinet alongside council officers, and is designed to meet the challenging financial climate facing the Council and all local authorities.

It sets out savings and growth proposals to protect frontline services, support residents and respond to growing demand, as well ensuring we deliver the Council’s ambitious Building a Fairer Newham Corporate Plan. 

Read the full budget setting report, it includes:

  • The context and financial background to the budget 
  • Our spending commitments 
  • Our plans to be more efficient
  • The severe funding challenges we face and the money that we receive from central Government and how this affects what we do 
  • Emerging pressures that could affect our future spending 
  • Our Council tax setting 
  • Our balances and reserves 

Our budget setting report includes: 

  • £10 million of investments for frontline services to support residents during these hard times, including: 
    - £0.55m total investment to expand and improve the Inclusion and Achievement SEND function, helping more children to achieve their potential.
    - £1.0m investment in the Council’s in-house anti-social behaviour and out-of-hours noise enforcement teams to proactively tackle neighbourhood crime and disruption.
    - £2.3m more into Environment and Sustainable Transport services, in response to the borough’s growing population.
    - £1.0m to fund the additional costs of paying the London Living Wage, ensuring that care staff are paid the London Living Wage as part of our ongoing agenda to address in-work poverty. 
  • Protecting the Council’s annual £6m Eat for Free programme, so that every primary pupil is provided a healthy and nutritious meal every day at school, saving families £500 per child per year. 
  • £100m capital investment for housing acquisitions and other developments to tackle the housing crisis and deliver homes our residents can afford.
  • £256 million of capital growth investments to drive our Building a Fairer Newham plans including: Family Hubs; the Newham Sparks Data Campus; Respite and Residential accommodation for Looked after Children and Care Leavers; CCTV upgrades across the borough; and multiple Active Travel transport improvements which will encourage greater adoption of low carbon impact transport modes.
  • £19 million of savings and efficiencies across the Council to ensure we deliver the services our residents need.
  • Council Tax rates to remain amongst the lowest in London, with a below inflation rise of 4.99% equating to an average Band D property in Newham paying no more than an additional £1.09 per week.
  • Support for eligible residents through our 90% Council Tax Reduction Scheme.
  • £3 million ever year into the Council’s General Fund Reserves, and an additional £4 million allocated to its contingencies. 

Budget setting 2023/24 proposals: What happens next?

Following engagement on the Draft Building a Fairer Newham Budget 2023/24 proposals with Councillors, residents and local partners, Mayor Fiaz and her Cabinet have developed a final Budget 2023/24 plan with officers; published for approval by Mayor Fiaz and her cabinet at a formal meeting on 16 February; with consideration and ratification by councillors at a Full Council meeting on the 27 February 2023.