The Council meeting on Wednesday 4th March 2026 saw the approval of the Council's budget for the upcoming financial year, including a proposed 2% increase in council tax for the adult social care precept. Significant capital investment plans were also approved, alongside updates to the Housing Revenue Account Business Plan and the Treasury Management Strategy. The Council also formally adopted changes to its Constitution and a new Code of Governance.

Budget and Financial Planning for 2026/27 to 2028/29

The Council approved its revenue budget for 2026/27, which includes a proposed 2% increase for the adult social care precept, resulting in an annual rise of £10.54 for a Band D property. This decision was made despite a projected ongoing budget gap of £87.8m by the third year of the medium-term financial plan, largely due to significant reductions in central government funding. The budget incorporates £56.4m in cost pressures and investments, including £2.1m for Fairer Westminster initiatives and £9.3m for temporary accommodation and adult social care pressures. New savings totalling £27.8m are also planned. The Council will utilise £19.7m from its general fund balance and earmarked reserves to support the budget.

A proposed amendment by the Conservative Group, which sought to allocate £500,000 for an Oxford Street Legal Fund, £1 million for additional uniformed patrols and enforcement officers, and £250,000 for enhanced tenant advice services, was defeated.

The Council also approved the Housing Revenue Account (HRA) revenue budget for 2026/27, including a 4.8% rent increase for social housing tenants and a 3.8% increase for non-dwelling rents. An additional £1.0m has been earmarked for the HRA Rent Support Fund. The HRA Business Plan outlines a 30-year capital programme totalling £2.5bn, with approximately 40% funded externally.

Capital Programme and Investment Framework

The Council approved its Capital Strategy for 2026/27 to 2030/31, proposing a gross General Fund capital budget of £2.550bn and a net budget of £1.275bn. This includes significant additional investment in temporary accommodation acquisitions. The strategy is underpinned by the Council's Fairer Westminster policy objectives and aims for prudent financing through reserves and minimum interest cover ratios.

The Integrated Investment Framework was also approved, setting strategic objectives for investment activity to manage risk and diversify investments. The Council aims for an overall return on investments to at least meet CPI inflation forecasts, using the Pension Fund as a benchmark.

Treasury Management Strategy

The Treasury Management Strategy Statement for 2026/27 to 2030/31 was approved, along with borrowing strategies, borrowing limits, and Prudential Indicators. The Annual Investment Strategy (AIS) and approved investments for the year ending 31 March 2027 were also agreed. The Minimum Revenue Provision Policy was approved, and authority was delegated to the Executive Director of Finance and Resources for decisions regarding the financing of the capital programme.

Pay Policy Statement

The Westminster City Council Pay Policy Statement for 2026-27 was approved. This statement outlines the Council's policies on workforce pay, particularly concerning senior staff and lowest-paid employees, as required by the Localism Act 2011.

Members' Allowances Scheme

The Members' Allowances Scheme for 2026-2027 was approved, with a Basic Allowance set at £11,193.12 per annum and Special Responsibility Allowances (SRAs) for various roles, including Cabinet Members and Committee Chairs. The scheme also includes provisions for ICT equipment, travel, subsistence, and carer's allowances. A proposal to increase Members' Allowances in line with Council staff salary increases agreed by the National Joint Council for Local Government Services was also approved.

Constitutional Changes

The Council formally adopted changes to its Constitution, including the approval of an amended Constitution and a new Code of Governance. The Monitoring Officer was authorised to make minor drafting, typographical, or consequential amendments to give effect to these decisions.

The meeting also saw the appointment of Councillor James Small-Edwards as Relief Chair and the approval of the minutes from the previous meeting on 21 January 2026. There were no declarations of interest or urgent matters raised. Public participation included four questions from members of the public, and two debates were held on party business concerning the City Plan and public safety.

The meeting concluded with the adoption of the City Plan Partial Review, which will be known as the 'City Plan 2019-2040 (2026)'. The Council Tax Resolution for 2026/27 was also approved, along with the proportional division of seats on various Standing Committees to reflect the political balance of the Council.