Council agrees bold, ambitious and balanced budget for Hackney
A balanced budget that continues to invest in a better Hackney for everyone has been approved for the next financial year.
Councillors agreed the budget at last night’s (4 March) full Council meeting, setting out how the Council will protect vital services, support residents most in need and continue to invest in the borough.
The approved budget delivers a balanced financial plan for 2026/27, and meets the challenge of rising costs and increasing need for services.
The Council has balanced the books through careful financial management, as well as benefitting from increased Government investment and changes to the way the funding is allocated to councils.
As in previous years, the majority of the budget will be spent on frontline services the Council is legally required to provide, including adult and children’s social care, temporary accommodation, and additional support for people with Special Educational Needs and Disabilities (SEND).
Alongside this, the Council has committed to continued investment in projects that improve the borough and residents’ everyday experiences. Over the coming financial year, this includes building, refurbishing and buying back council homes, increasing investment in libraries, street cleaning and enforcement against fly-tipping, and beginning the transformation of Hackney’s iconic Kings Hall Leisure Centre.
The approved budget also includes £156m support for financially vulnerable residents through housing benefit, crisis support and housing allocations, £144m to tackle homelessness, £8.85m for community safety and £23.5m for keeping Hackney’s streets clean.
From April 2026, Council Tax bills will increase by the standard 4.99%, remaining among the lowest in London. The Council will continue to support residents on low incomes, with Council Tax discounts of up to 90% available, and will double Council Tax for owners of homes that have been left vacant for at least 12 months.
“This is a bold, ambitious and balanced budget that prioritises support for residents most in need, and invests in a better Hackney for everyone. That means protecting frontline services that support the most vulnerable, alongside investing in the things that make Hackney the borough we love.
“The financial challenges councils face haven’t gone away overnight. But as a result of careful planning over several years, combined with increased government investment, we now have a stronger platform to build upon. We’ll use this foundation to bring real benefits for people in Hackney.”
“From refurbishing libraries to building new council homes, helping with the cost of living, to cleaning up our streets, this is a budget shaped for Hackney’s residents.”
Caroline Woodley, Mayor of Hackney