The Cabinet of Lambeth Council is scheduled to meet on Monday 23 March 2026 to discuss the New Homes Programme update for 2026/27. The meeting will also cover the council's financial position and budget for the upcoming years.

New Homes Programme Update 2026/27

A significant portion of the meeting is dedicated to reviewing the progress and future plans for Lambeth Council's New Homes Programme (NHP). This programme aims to deliver at least 10,000 new homes over the next decade, with a focus on genuinely affordable housing, targeting 40% affordable provision across the borough's development pipeline. The report highlights the severe housing crisis in Lambeth, with over 28,000 households on the council housing waiting list and approximately 4,400 households in temporary accommodation.

The NHP has seen progress in 2025/26, including the completion of the Fenwick Place scheme, securing planning permission for Somerleyton Road Phase 2, and submitting a planning application for 49 Brixton Station Road. Partnerships have been established with developers like Countryside Properties (UK) Limited and Pocket Living to deliver new homes on council-owned sites. The programme for 2026/27 will build on this progress, focusing on delivering housing on council-owned land and exploring approaches to address the rising cost of temporary accommodation. The report also details the council's commitment to energy-efficient, net-zero homes and sustainable design principles, aligning with the council's environmental commitments.

The report outlines the council's approach to resident engagement, emphasising transparency, regular communication, and community involvement in the design and development process. It also details the financial context, noting the unprecedented financial challenges facing both the General Fund and the Housing Revenue Account, and the need for the NHP to be delivered without placing additional burdens on these funds.

Revenue and Capital Budget 2026/27 and Medium-Term Financial Strategy 2026/7 to 2029/30

The meeting will also address the council's financial plans for the coming years. This includes the proposed Revenue and Capital Budget for 2026/27 and the Medium-Term Financial Strategy (MTFS) extending to 2029/30. The report highlights the sustained real-terms funding reductions faced by councils since 2010, coupled with rising demand for services. The budget proposals aim to prioritise high-quality public services, including support for vulnerable children, protection of street cleaning services, and continued investment in services for women and girls who have experienced domestic abuse.

A key aspect of the financial discussions will be the council's commitment to reducing debt servicing costs and minimising future borrowing. The report details plans to optimise capital programme delivery, maximise grant funding, and utilise capital receipts to reduce borrowing. The council's commitment to openness, honesty, and transparency with residents regarding the financial challenges and required savings is also emphasised. The report includes details on proposed increases to fees and charges, the Housing Revenue Account budget, and the allocation of the Dedicated Schools Grant. Discussions are expected to cover the council tax requirement and the Greater London Authority precept.