Content

Conservative Group
Amendments
On a recorded vote
on the Conservative Group amendments there being:
 
For (2): Cllr Lisser and Cllr Steinberger
 
Against (44): Mayor Woodley,
Cllr Adams, Cllr Adebayo, Cllr Adejare,
Cllr Binnie-Lubbock, Deputy Mayor Bramble, Cllr Chapman, Cllr
Conway, Cllr Davis, Cllr Desmond, Cllr Fajana-Thomas, Cllr Garbett, Cllr Gooch, Cllr Gordon, Cllr Hayhurst, Cllr Kennedy, Cllr Lucas, Cllr Lufkin,
Cllr Lynch, Cllr Martins, Cllr Narcross, Deputy Mayor Nicholson, Cllr Ogundemuren, Cllr Ogunzkanli, Cllr Pallis, Cllr Patrick (Speaker), Cllr Pinkerton,
Cllr Premru, Cllr Rathbone, Cllr Ross,
Cllr Sadek, Cllr Samatar, Cllr Selman, Cllr Sizer, Cllr Smyth, Cllr
Suso-Runge, Cllr Tinaz, Cllr Troughton, Cllr Turbet-Delof,  Cllr
\Walker, Cllr Webb, Cllr Williams, Cllr Wrout and Cllr Young.
 
Abstentions (0: None
 
Not present in the Chamber at time
of vote (4): Cllr Krautwirt, Cllr
Ozsen, Cllr Papier and Cllr Potter
 
The resolution was
declared NOT CARRIED
 
 
Green Group
Amendments
On a recorded vote
on the Green Group amendments there being:
 
For (7):  Cllr Adejare, Cllr
Binnie-Lubbock, Cllr Davis, Cllr Garbett, Cllr Premru,
Cllr Turbet-Delof and Cllr Wrout.
 
Against (39): Mayor Woodley,
Cllr Adams, Cllr Adebayo, Cllr Adejare,
Deputy Mayor Bramble, Cllr Chapman, Cllr Conway, Cllr Desmond, Cllr
Fajana-Thomas, Cllr Gooch, Cllr Gordon,
Cllr Hayhurst, Cllr Kennedy, Cllr
Lisser, Cllr Lucas, Cllr Lufkin, Cllr
Lynch, Cllr Martins, Cllr Narcross,
Deputy Mayor Nicholson, Cllr Ogundemuren, Cllr Ogunzkanli, Cllr Pallis, Cllr Patrick (Speaker), Cllr Pinkerton,
Cllr Rathbone, Cllr Ross, Cllr Sadek,
Cllr Samatar, Cllr Selman, Cllr Sizer,
Cllr Smyth, Cllr Steinberger, Cllr Suso-Runge, Cllr Tinaz,
Cllr Troughton,  Cllr \Walker, Cllr
Webb, Cllr Williams and Cllr Young.
 
Abstentions (0):
None
 
Not present in the Chamber
(4): Cllr Krautwirt, Cllr
Ozsen, Cllr Papier and Cllr Potter
 
The resolution was
declared NOT CARRIED
 
Substantive Labour
Group Budget Proposal
On a recorded vote
on the substantive Labour Group budget proposal there being:
 
For (37): Mayor Woodley, Cllr
Adams, Cllr Adebayo, Cllr Adejare,
Deputy Mayor Bramble, Cllr Chapman, Cllr Conway, Cllr Desmond, Cllr
Fajana-Thomas, Cllr Gooch, Cllr Gordon,
Cllr Hayhurst, Cllr Kennedy, Cllr
Lucas, Cllr Lufkin, Cllr Lynch, Cllr Martins, Cllr Narcross, Deputy Mayor Nicholson, Cllr Ogundemuren, Cllr Ogunzkanli, Cllr Pallis, Cllr Patrick (Speaker), Cllr Pinkerton,
Cllr Rathbone, Cllr Ross, Cllr Sadek,
Cllr Samatar, Cllr Selman, Cllr Sizer,
Cllr Smyth, Cllr Suso-Runge, Cllr
Tinaz, Cllr Troughton,  Cllr \Walker, Cllr Webb, Cllr Williams and Cllr
Young
 
Against (2): Cllr Lisser and Cllr Steinberger
 
Abstentions (7): Cllr
Adejare, Cllr Binnie-Lubbock, Cllr
Davis, Cllr Garbett, Cllr Premru, Cllr Turbet-Delof and Cllr Wrout.
 
Not present in the Chamber
(4): Cllr Krautwirt, Cllr
Ozsen, Cllr Papier and Cllr Potter
 
The resolution was
declared CARRIED
 
RESOLVED:
 
1. 
To approve to bring forward into 2026/27 the Council’s
projected 2025/26 General Fund balance of £19.0m with the aim
of increasing this to £22m - £24m over the medium-term
period noting the Housing Revenue Account (HRA) projected 2025/26
balance of £13.5m with the aim of increasing to £16.8m
by the end of March 2027.
 
2. 
To approve of directorate estimates and estimates for the General
Finance Account items set out in Table 2 in Section 12 of the
report.
 
3. 
To note that the budget is a financial exposition of the priorities
set out within the Strategic Plan summarised at Section 6 of the
report.
 
4. 
To note that in line with the requirements of the Local Government
Act 2003, the Group Director Finance and Corporate Resources, was
of the view that:
 
o 
The General Fund balances which currently stand at £19.0m and
the level of other reserves are adequate to meet the
Council’s financial needs for 2026/27 and that considering
the economic uncertainty they should not fall below this level and
that the aim is to increase these to £22m - £24m over
the medium term.
 
o 
This view takes account of the reserves included in the
Council’s latest published 2024/25 Accounts and the movements
of those reserves since that date – which have been tracked
through the Overall Financial Position (OFP) Reports, and the
latest OFP projections. Note also, that the projections in the HRA
Budget to increase the balance to £16.8m by 31 March 2027.
The HRA Business Plan sets out how the reserve levels will be built
up over the next two financial years with the aim to be at 10% by
the end of 2027/28.
 
o 
The General Fund estimates are sufficiently robust to set a
balanced budget for 2026/27. This takes into account the adequacy
of the level of balances and reserves outlined above and the
assurance gained from the comparisons of the 2025/26 budget with
the projected spend identified in the December 2025 OFP. The
overall level of the corporate contingency has been set at
£2m.
 
5. 
The proposed General Fund fees and charges as set out in Appendix
7a & Appendix 7b (exempt) for implementation from 1 April 2026
was approved.
 
6. 
That the Mayor, Cabinet and the Corporate Leadership Team’s
delivery of the approved savings plans and development of robust
savings plans to close the revised Medium Term Financial Plan
budget gaps set out in Appendix 5 and deliver a year on year
balanced position, taking into account the recommendation of the
S151 Officer as set out in the Section 25 Statement (Appendix 12).
Consideration given to building in increases to our revenue
reserves to improve the financial resilience of the Council in the
medium term. 
 
7. 
That the summary of the HRA Budget and Rent setting report proposed
to Cabinet on 26 January 2026, be noted.
 
8. 
To delegate authority to the Group Director of Finance and
Corporate Resources to implement any virements required to allocate provision for demand
and growth pressures set out in this report subject to the
appropriate evidence base being provided.
 
9. 
To approve the allocation of resources to the 2026/27 capital
programme referred to in Section 20 and Appendix 6 of the
report.
 
10.To approve the Flexible Use of
Capital Receipts Strategy for 2026/27 (Appendix 10) with a maximum
expenditure limit of £19.3m (2026/27), recognising that this
approval does not constitute a commitment to utilise the strategy
(paragraph 20.5 and Appendix 10).
 
11.To delegate authority to the
Section 151 Officer to authorise the implementation of the Flexible
Use of Capital Receipts Strategy at the conclusion of the financial
year, contingent upon a comprehensive assessment of the Council's
overall financial position (paragraph 20.5 and Appendix 10).
 
12.To grant approval for the
prudential indicators for Capital Expenditure:- the Capital Financing Requirement; the
Authorised Limit and Operational Boundary for External Debt; the
Affordability Prudential Indicators; and the Treasury Management
Prudential Indicators for 2026/27 as set out in Section 21 and
Appendix 3 of the report.
 
13.To approve that the authorised
limit for external debt of £1,241m agreed above for 2026/27
will be the statutory limit determined under section 3(1) of the
Local Government Act 2003. Further reassurance about the robustness
of the budget is the confirmation that the Council’s
borrowings are within the boundaries of prudential guidelines.
 
14.To note that at its meeting on
28 January 2026 the Council agreed its Council Tax Base for the
2026/27 financial year as 80,163.35 in accordance with regulations
made under section 33(5) of the Local Government Finance Act 1992.
The Council Tax Base is the total number of properties in each of
the eight council tax bands A to H converted to an equivalent
number of band D properties.
 
15.That approval be granted for the
following amounts be now calculated by the Council for the year
2026/27 in accordance with Sections 31A to 36 of the Localism Act
2011.
 
The authority calculates the
aggregate of: (in accordance with Section
31A (2) of the Act).
 
(a)  £1,371.155m
being the expenditure which the authority estimates it will incur
in the year in performing its functions and will charge to a
revenue account, other than a Business Improvement District (BID)
Revenue Account, for the year in accordance with proper
practices.
 
(b)  £2m being such
allowance as the authority estimates will be appropriate for
contingencies in relation to amounts to be charged or credited to a
revenue account for the year in accordance with proper
practices.
 
(c)  £nil
being the financial reserves which the authority estimates it will
be appropriate to raise in the year for meeting its estimated
future expenditure.
 
(d)  £nil being
such financial reserves as are sufficient to meet so much of the
amount estimated by the authority to be a revenue account deficit
for any earlier financial year as has not already been provided
for.
 
(e)  £nil being the
amount which it estimates will be transferred in the year from its
general fund to its collection fund in accordance with section
97(4) of the 1988 Act, and
 
(f)  £nil
being the amount which it estimates will be transferred from its
general fund to its collection fund pursuant to a direction under
section 98(5) of the 1988 Act and charged to a revenue account for
the year.
 
16.That the authority calculates the aggregate of:
(in accordance with Section 31A (3) of the Act)
 
(a)  £1,245.957m
being the income which it estimates will accrue to it in the year
and which it will credit to a revenue account, other than a
Business Improvement District (BID) Revenue Account, for the year
in accordance with proper practices.
 
(b)  £2.962m being
the amount which it estimates will be transferred in the year from
its collection fund to its general fund in accordance with section
97(3) of the 1988 Act.
 
(c)  £nil
being the amount which it estimates will be transferred from its
collection fund to its general fund pursuant to a direction under
section 98(4) of the 1988 Act and will be credited to a revenue
account for the year, and
 
(d)  £nil being the
amount of the financial reserves which the authority estimates it
will use in order to provide for the items mentioned in subsection
(2) (a), (b), (e) and (f) above.
 
17.That £124.236m being the
amount by which the aggregate calculated under subsection (1) above
exceeds that calculated under subsection (2) above, the authority
calculates the amount equal to the difference; and the amount so
calculated is its Council Tax Requirement for the year.
 
18.That £124.236m being the
amount at (3.2.17) divided by the amount
(3.2.14) above, calculated by the
Council, in accordance with section
31A of the Act, £1,549.79 as
the basic amount of its council tax for the
year.
 
19.That the Council in accordance with Sections 30
and 36 of the Local
Government Finance Act
1992, hereby sets the aggregate amounts
shown in the tables below as the
amounts of Council tax for 2026/27 for
each part of its area and for each of
the categories of dwellings.
 
Valuation Bands
Hackney
 

A

B

C

D

E

F

G

H

£1,033.19

£1,205.39

£1,377.59

£1,549.79

£1,894.19

£2,238.59

£2,582.98

£3,099.58

 
 
20.To note that for 2026/27 the Greater London
Authority has stated the
following amounts in precepts issued
to the Council, in accordance with
Section 40 of the Local Government
Finance Act 1992, for each of the
categories of dwellings shown below.
These precepts are subject to the
approval of the GLA Assembly at their
meeting scheduled for 26 February.
 
Valuation Bands
GLA
 

A

B

C

D

E

F

G

H

£340.34

£397.06

£453.79

£510.51

£623.96

£737.40

£850.85

£1,021.02

 
 
21. That having calculated the
aggregate in each case of the amounts at 3.2.19 and 3.2.20 above,
the Council, in accordance with Section 30(2) of the Local
Government Finance Act 1992, hereby sets the following amounts as
the amounts of Council Tax for 2026/27 for each of the categories
of dwellings as shown below.
 
Valuation Bands
Combined Hackney/GLA
 

A

B

C

D

E

F

G

H

£1,373.53

£1,602.45

£1,831.38

£2,060.30

£2,518.15

£2,975.99

£3,433.83

£4,120.60

 
 
22. To approve, subject to the
decision of Members on recommendations
3.2.19 to 3.2.21 that Hackney’s
Council Tax requirement for 2026/27 be £124.236m which
results in a Band D Council Tax of £1,549.79 for Hackney
purposes and a total Band D Council Tax of £2,060.30
including the Greater London Authority (GLA) precept.
 
23 . To approve, in accordance with
principles approved under section
52ZB of the Local Government Finance
Act 1992, and the new provisions included in the Localism Act 2011,
the increase in the Council’s Council Tax requirement for
2026/27 as shown at Appendix 8 is not excessive (5% or above) and
therefore does not require the Council to hold a referendum.
 
24. To approve the Treasury
Management Strategy for 2026/27, set out at
  Appendix
3 of the report.
 
25.  To
approve the criteria for lending and the financial limits set out
at  Appendix 3 of the
report.
 
  26. To approve the Minimum
Revenue Provision statement setting out the  method of calculation to be used, as
set out in paragraphs 21.19-21of the report.