Edward Smith

The Cabinet decided to approve recommendations for the Meridian Water update on 24 June 2026. The Cabinet approved the market testing strategy for remaining land parcels, delegated authority for market feedback consideration and route to market determination, and approved the use of the Meridian Water budget for placemaking initiatives. The Cabinet also agreed to amend the existing Development Agreement with Vistry Partnerships Ltd for the conditional sale of land.

The Cabinet approved the draft financial outturn for 2025/26 on 24 June 2026. This included recommendations for reserves movements and the carry forward of capital budgets. The decision also noted the reclassification of an existing revenue loan as capital.

The Cabinet agreed to note progress on the Energetik Strategic Review and approved in principle a full sale of Energetik supported by a Golden Share arrangement. This decision was made on 24 June 2026.

The Council approved the Treasury Outturn position for 2025/26 on 24 June 2026. The report noted that total external borrowing was £1.29bn, broadly stable compared to the prior year, and General Fund borrowing was £991m, below the set limit. The cost of borrowing for the General Fund was £26.5m, which was £4.9m lower than budget.

Enfield Cabinet decided to approve recommendations on 24/06/2026. The Cabinet agreed in principle to a full sale of Energetik supported by a Golden Share arrangement, subject to market testing, lender engagement, and due diligence.