The Public Cabinet meeting of Bexley Council on 23 February 2026 focused on the council's financial health and future strategy. Key decisions included the approval of the budget monitoring report for the financial year to date, the adoption of the Economic Growth Strategy, and the endorsement of the Cultural Strategy. The council also discussed and recommended for approval the Medium-Term Financial Strategy for 2026-27 to 2029-30, which includes a proposed Council Tax increase.

Budget Monitoring and Medium-Term Financial Strategy

The council reviewed its budget monitoring report for the financial year up to December 2025 (Period 9). Overall, the general fund was forecasting an overspend of £1.762 million against a net budget of £253.425 million, which was a favourable movement of £0.176 million since the previous month. The report detailed variances across directorates, with Adult Social Care and Public Health reporting a significant overspend of £3.621 million, primarily due to increased placement activity and inflationary pressures on care packages. Neighbourhoods Directorate was forecasting an underspend of £1.595 million, largely driven by savings in Housing Services due to effective prevention measures.

A significant portion of the meeting was dedicated to the Medium-Term Financial Strategy (MTFS) for 2026-27 to 2029-30. The council confirmed a balanced budget for 2026/27, but projected budget gaps in future years, rising to approximately £17.8 million by 2029/30. This strategy assumes a 4.99% increase in Council Tax, including a 2.00% increase for the Adult Social Care precept. The final local government settlement, announced on 9 February 2026, provided some additional grant income, particularly for homelessness, rough sleeping, and domestic abuse services, and confirmed the ending of the Safety Valve programme.

The MTFS detailed the council's approach to managing financial pressures through its Future Bexley transformation programme, service reviews, and technical reviews. Savings identified through these initiatives were outlined, with a total of £3.63 million in gross savings expected in 2026/27 from the transformation programme, alongside further savings from service reviews. The report also highlighted key financial risks, including contract inflation, pay inflation, increasing demand in social care and SEN transport, and the impact of the cost of living crisis.

The council approved recommendations to agree a general fund budget of £271.950 million for 2026/27, including a contingency provision of £5 million. They also agreed to the proposed Council Tax increases and noted the Greater London Authority (GLA) precept. The revised Capital Programme, including additions and deletions, was also approved, with significant investment planned for highways, playgrounds, libraries, and community centres.

Adoption of the Bexley Economic Growth Strategy

The council adopted the Bexley Economic Growth Strategy, a document that outlines the overarching approach to delivering inclusive and sustainable growth across the borough. The strategy is guided by six core principles: directing council investment to support good growth, fostering a thriving inward investment climate, working transparently with communities, strengthening partnerships, focusing on prevention and early intervention, and improving connectivity.

The strategy sets out ten strategic outcomes, including securing inward investment, meeting housing targets, building a resilient local economy, improving transport, delivering a robust digital network, safeguarding social and community infrastructure, enhancing health and wellbeing, improving education and employment pathways, increasing civic participation, and leading in the green economy.

The strategy was developed following a public consultation period where feedback was analysed and incorporated. Key themes from the consultation included the need for defined timescales, appropriate metrics for success, robust analysis, deliverability, partnership working, improved public transport, enhanced town centres, support for small businesses, and concerns about environmental sustainability.

The council also endorsed the Cultural Strategy, which aims to sustain prosperity and togetherness across the borough by organising activities that bring people to town centres, develop young talent, support new businesses, and attract inward investment. The strategy highlights the existing cultural assets in Bexley, including arts organisations, creative industries, historic houses, performing arts education institutions, pubs, community venues, libraries, and local history societies. It outlines four cross-cutting themes: Growing Places, Growing Talent, Growing Jobs, and Growing Health & Wellbeing, with associated actions for brokering, promotion, planning, and venue management.

Other Matters

The meeting also included disclosures of interest, with Councillor Richard Diment declaring an interest due to his daughter being employed as a teacher in the borough and his grandson being a resident in receipt of an EHC plan. Councillor Brian Bishop declared an interest as his wife receives a pension from the council. The confirmation of previous minutes was also noted.