The Council meeting held on Wednesday 4 March 2026 saw the approval of the Council's budget for the upcoming financial year, including setting the Council Tax rate. Significant decisions were also made regarding the Capital Programme, Treasury Management Strategy, Housing Revenue Account Business Plan, and the Council's Pay Policy.

Council Tax and Revenue Budget Approved

The Council approved its revenue budget for 2026/27, agreeing to a Band D Council Tax of £537.34. This represents an increase of £10.54 annually, or 20p per week, primarily due to the adult social care precept. The Council also agreed to continue the Westminster Community Contribution scheme, allowing residents to voluntarily contribute to discretionary services supporting young people, rough sleepers, and tackling social isolation. The General Fund net budget requirement was set at £282.666m, with £9.84m from the general fund balance and £9.84m from earmarked reserves used to partially fund the budget. Savings, pressures, and investments for 2026/2027 to 2028/29 were also approved. The Dedicated Schools Grant allocations totalling £210.162m were noted, with the schools block of £139.144m to be allocated using the local formula agreed by the Westminster Schools Forum.

Capital Programme and Investment Strategies Adopted

The Council adopted its Capital Strategy for 2026/27 to 2030/31, outlining the Council's capital programme and financing. This includes approving capital expenditure for the General Fund from 2025/26 to 2030/31 and future years up to 2039/40. All development and investment projects will follow the previously approved business case governance process. The Integrated Investment Framework for 2026/2027 was also approved, setting targets for investment returns to meet CPI inflation over the medium term and using Pension Fund investments as a benchmark. The Treasury Management Strategy Statement for 2026/27 to 2030/31 was adopted, including the borrowing strategy, borrowing limits, and Prudential Indicators.

Housing Revenue Account and Pay Policy Approved

The Housing Revenue Account (HRA) Business Plan was adopted, approving the HRA revenue budget for 2026/27 and a 5-year Capital Programme totalling £931.1m. A rent increase of 4.8% from 1 April 2026 was approved, in line with national policy, and an ongoing provision of £1.0m for the HRA Rent Support Fund was included. Fees and charges, and non-dwelling rents associated with garages, sheds, and parking, will increase by 3.8%. The Westminster City Council Pay Policy Statement for 2026-27 was also approved.

Members' Allowances and Constitutional Changes Approved

The Members' Allowances Scheme for 2026-2027 was approved, with allowances to increase in line with any salary increase for Council staff. Amendments to the Council's Constitution were approved, including a new Code of Governance, to ensure the Council's governance framework remains current and aligned with best practice. The Monitoring Officer was authorised to make minor drafting amendments.

The meeting also included tributes to retiring councillors, including Councillor Louise Hyams and Councillor Ruth Bush, who had served for over 20 years each. The Lord Mayor, Councillor Paul de Moldenberg, presided over the meeting.