This meeting is about the council's budget plans for the 2025-26 financial year and includes details on proposed spending, income generation and savings. It also includes proposed fees and charges for council services and a plan to adopt the treasury management, investment and capital strategy reports for 2025-26. The only information available to the public about this meeting is contained in the documents that will be provided to the people attending the meeting. We cannot know for sure what will be discussed or whether any decisions will be made.

Housing

The meeting report pack contains the Mayor's proposed budget for the Housing Revenue Account (HRA).¹

The report pack says this will include a 2.7% increase to tenants’ rents. The council say this increase was determined in line with the Regulator for Social Housings published Rent Standard, which allows increases of up to CPI² plus 1% per year.

It is proposed that rents on new build properties will be increased by 5% to reflect that they are more energy efficient and therefore cheaper to run. A report in the pack says this represents a move away from 50:50 split between social rent and Tower Hamlets living rents for new properties.

The pack says the council also plan to transfer ownership of 435 temporary accommodation properties from the General Fund to the HRA.

Council Tax

The meeting report pack says the Mayor will ask the council to approve a 2.99% increase to the Tower Hamlets element of Council Tax and a 2% Adult Social Care precept for 2025-26.

The report pack says that the Greater London Authority (GLA) precept is to be decided by the GLA Assembly on 25 February 2025.

School Uniform Grants

The report pack says the council are proposing to introduce a School Uniform Grant. This would provide payments to help parents on low incomes to buy school uniforms for their children when they start primary or secondary school.

The report pack says they plan to award £50 for primary school starters and £150 for secondary school starters and that a household income ceiling of £50,350 will apply. The report pack says all eligible students will receive the grant, including children attending faith and independent schools.

Waste

The meeting report pack contains a proposal for a £15 million investment in waste services over the next three years.

Meals on Wheels

The council are proposing to reintroduce a Meals on Wheels service. The service will provide meals for vulnerable people who are housebound or struggling to afford to eat.

The report says the council plan to spend £1 million each year for three years to commission an external provider to deliver the service.

Technology Enabled Savings

The meeting report pack contains a proposal to introduce Technology Enabled Savings.

This would use technology such as data analytics, automation, cloud computing, and artificial intelligence (AI) to improve how services are delivered.

The report pack says the council plan to pilot the project in 2025-26 before potentially making a £1 million saving in 2026-27 and a £2 million saving in 2027-28.

Early Redundancy / Voluntary Redundancy Scheme

The council propose to use money from the sale of council assets, known as capital receipts, to fund an Early Redundancy / Voluntary Redundancy Scheme.

The report pack says this would be used to make one off payments to staff who take voluntary redundancy or early retirement.

The report pack says the scheme will save the council £3 million in 2025-26 and £1 million in 2026-27.

Disabled Parking

The meeting report pack contains a proposal to introduce a charge of £30 for a Personalised Disabled Bay Permit.

It also contains a proposal to introduce an annual charge of £10 for Blue Badge Holders to park.

The Overview and Scrutiny Committee has recommended that both charges be withdrawn.

Pension Valuation

The meeting report pack contains details of the triennial pension valuation.³

It is proposed that the council make a saving of £6 million in both 2026-27 and 2027-28 based on an improved funding level.

Power BI

The council are proposing to make a £1 million saving in 2025-26 by using a software package called Power BI.

The meeting pack says Power BI is a data analysis tool that would be used to improve the way children’s services and finance operate.

Barkantine Heat and Power Company

The meeting report pack contains a proposal to approve a £533,000 budget for the Barkantine Heat and Power Company⁴ district heating energy centre.

The council say they intend to fund this from an existing reserve. They say the funding is for a two-year transitional agreement for the scheme with the current PFI operator, whilst they procure a long-term operator for 2027-28.

Commercial Income

The report pack says the council will seek to increase income from renting commercial properties it owns.

It contains a proposed income target of £1 million from commercial property in 2027-28.

It also says the council intend to increase income from commercial waste collection by £250,000 in 2025-26 and a further £500,000 in 2027-28.

The report pack says the council will also seek to increase income by expanding the number of maintained schools that buy its traded services. The proposed target is £60,000 in both 2026-27 and 2027-28.

Other Business

The meeting pack says the council will be asked to approve the Treasury Management Strategy Statement for 2025-26. It says the council's external treasury management advisors, Arlingclose Limited, will present their economic and interest rate forecasts for the year ahead.

The report pack also says the council will consider the Investment Strategy Report for 2025-26. It sets out the maximum amounts that the council can invest or lend to each of their subsidiaries and associates, charities, and employees.

The meeting pack also says the council will consider the Capital Strategy Report for 2025-26. It says it sets out how the council will fund its capital programme.

The meeting pack also says the council will consider the Members' Allowances Scheme for 2025-26. It sets out how much the councillors are paid.