The Cabinet of Enfield Council met on Wednesday, 25 February 2026, to discuss a range of significant financial and housing development matters. Key decisions included the approval of the 2026/27 budget and Medium-Term Financial Plan, which involves a Council Tax increase and significant investment in services, alongside the award of a major contract for the Joyce & Snells Estate regeneration and the approval of a ten-year plan for housing delivery.

Budget Report 2026/27 and Medium Term Financial Plan 2026/27 to 2030/31

The Cabinet agreed to recommend to Full Council the setting of the Council Tax Requirement for Enfield at £184.874m for 2026/27. This includes a 2.99% general Council Tax increase and a 2.00% Adult Social Care Precept, resulting in a Band D Council Tax of £1,757.16. This represents an increase of £1.60 per week for a Band D property. The Cabinet also noted that the Greater London Authority (GLA) precept would add a further £510.51 at Band D, bringing the total combined Council Tax to £2,267.67 per week, a 4.79% increase on the previous year. The Cabinet agreed to the proposed General Fund Net Revenue Budget of £438.969m for 2026/27 and recommended that Council approve the latest General Fund Medium-Term Financial Plan estimates for 2026/27 to 2030/31, noting an estimated budget gap of £34.5m at the end of that period. The Cabinet also agreed to the proposed savings and income proposals for 2026/27 totalling £11.960m, subject to further assessment and consultation.

Housing Delivery & Placemaking Ten Year Plan 2026-36 and Affordable Housing Bid

The Cabinet approved the Housing Delivery & Placemaking Ten Year Plan 2026-36, which outlines the Council's commitment to delivering 3,000 high-quality, affordable homes over the next decade. This plan aims to tackle the housing crisis by increasing housing supply, improving existing stock, and creating safe, sustainable, and inclusive neighbourhoods. The Cabinet also approved an ambitious bid to the GLA's new Social and Affordable Homes Programme (SAHP) and authorised officers to negotiate grant rates with the GLA to secure funding for this programme. Delegations were granted to the Executive Director for Housing and Regeneration to negotiate grant rates, reallocate tenure mix, enter into land and build contracts, spend Right to Buy receipts, agree principle acquisitions, and enter into ancillary agreements and early works licenses.

Award of Joyce & Snells Contract for Phases 0-1 and Next Steps

The Cabinet approved the entering into of a JCT Design and Build Main Works Contract with Hill Partnership to deliver Block A and Block D for the Joyce & Snells Estate Regeneration Scheme. They also agreed to amend the existing phasing plan to bring forward Block B as Phase 2 of the regeneration scheme, which will accelerate the delivery of affordable homes and enable residents to move into new homes sooner. Authority was delegated to the Executive Director of Housing and Regeneration to agree outstanding terms for Block D and to approve the submission of planning applications and variation documents for Block B. An in-principle decision was also made to utilise Compulsory Purchase Order (CPO) powers to secure vacant possession of properties and land required for Block B, with preparatory work authorised. Finally, the themes and approach to securing socio-economic benefits for the scheme, as set out in the Draft Socio-economic Strategy, were approved.

Meridian Water Update

The Cabinet noted and agreed in principle, subject to market testing, the potential focus for Meridian Water as set out in the report. They approved the marketing of Phase 2 North, Phase 2 South, and Phase 3 North. A further report will be brought to Cabinet once a purchaser has been identified to seek approval for any disposals or other arrangements. The Cabinet also approved a fee budget of up to £826,000 plus VAT for the appointment of consultants to support the selection of strategic development partners.

Children's Home Development

The Cabinet approved a budget envelope of £1.5m for the purchase of a property on the open market and its adaptation to create a new Ofsted-registered children's home in Enfield. This will be funded equally by Council borrowing and a grant from the Department of Education (DfE). Authority was delegated to the Executive Director of Housing & Regeneration for the property purchase, with a maximum purchase price set at £1m. Delegations were also made to the Executive Director of People to approve project spend for adaptation works and to approve the procurement and contract award for care services.

Treasury Management Strategy Statement 2026/27

The Cabinet agreed to recommend to Full Council the approval of the Treasury Management Strategy 2026/27. This includes maintaining the 2026/27 Authorised Limit for borrowing and leases at £1.9bn and changing the annuity rate used for Minimum Revenue Provision (MRP) applied to unsupported borrowing from a fixed 3.50% to the prevailing PWLB rate. The debt strategy as set out in section 5 of the report was also approved.

2026/27 Capital Strategy and Ten-Year Capital Programme (2026/27 to 2035/36)

The Cabinet recommended that Council approve the 2026/27 Capital Strategy and a Capital budget for 2026/27 of £476.4m. They also recommended approval of the carry forward of £71.9m from the 2025/26 budget and noted the ten-year capital programme of £2.06bn. A General Fund total capital receipts target of £130m was approved, with £50m for 2026/27 and £20m for each of the following four years. Authority was delegated to Cabinet to approve further carry forward requests and to add projects to the Capital Programme up to a total of £12m per annum.

2026/27 HRA Budget Setting Report and Business Plan 2026/27

The Cabinet agreed to recommend that Council approve the detailed HRA Revenue Budget of £95.7m for 2026/27 and the 10-year HRA Capital Development Programme of £610.9m to deliver approximately 1,500 new homes. They also approved the next five years' Right to Buy (RTB) programme expenditure of £35.8m, the updated HRA debt profile and borrowing requirements of £141m over the next 10 years, and the 10-year HRA Investment in Stock Programme of £255m. A rent increase of 4.8% was approved in line with Government guidelines, and the level of service charges for 2026/27 was approved at an average increase of £0.21p per week. The provisional allocation offer of £17.99m LAHF round 4 grant funding from MHCLG was accepted, along with an additional capital budget of £40.5m to support the delivery of 86 homes through this grant. The updated disposal strategy for the sale of void one-bed or studio flats was also approved. The Cabinet noted the proposed bid to deliver 3,000 affordable homes over the next ten years and the introduction of a management charge when issuing major works bills to leaseholders.

2025/26 Quarter 3 Treasury Management Update

The Cabinet noted the borrowing and investments position and estimates as at 30th November 2025 and Quarter 3 (Q3) estimates for the financial year 2025/26.

2026/26 Quarter 3 Revenue and Capital Monitoring Report

The Cabinet approved the use of any capital receipts balance over £9.4m as at 31 March 2026 to finance the 2025/26 capital programme, replacing borrowing funding sources and reducing Minimum Revenue Provision payments in 2026/27. They also noted the quarter 3 forecasts as set out in Table 1 of the report.

The meeting also included the confirmation of the minutes of the previous Cabinet meeting held on 14 January 2026.