Redbridge Council is proposing £7.253 million in new savings as part of its latest draft budget.
The 2026/27 plans were presented at a cabinet meeting on January 19, and will be put forward for approval at the full council meeting on March 5.
No figure appears to have been set yet for the percentage increase or the amounts each household will pay over the year from April.
The draft budget outlines total savings of £7.253 million for 2026/27 and £42.674 million across the council’s Medium Term Financial Strategy (MTFS).
Councillor Kam Rai, leader of Redbridge Council, said: "For years we’ve faced repeated cuts to government funding, even as demand for housing and social care has soared. Despite that, we’ve kept the services our communities rely on—social care, libraries, leisure centres and our award‑winning parks—open and thriving, while many other councils have had to cut back."
Redbridge is expected to receive £61.5 million in government funding over the next three years, with around £20 million allocated for 2026/27. However, the council has warned that the funding uplift addresses historic underfunding rather than offering new investment.
This year’s overspend stands at £48.835 million, and the July MTFS update identified a budget gap of £59.574 million for 2026/27.
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Cllr Rai said: "After more than a decade of making the case for fair funding, ministers have finally listened. I’m pleased that our lobbying has secured a better deal for Redbridge, but we’re far from out of the woods."
The new savings proposals are designed to deliver efficiencies and increase income, with a focus on protecting essential services for residents and businesses.
Councillor Vanisha Solanki, deputy leader of Redbridge Council, said: "The move to a multi‑year finance settlement is particularly welcome. It provides much‑needed stability and allows councils to plan more strategically."
The Fair Funding Review and revised Local Government Finance Settlement continue to be reviewed by council officers to fully understand their implications.
Any increase will be determined at the full council meeting in March.
Under current rules, the council could raise tax by up to 4.99% - including 3% ringfenced for adult social care - without requiring a local referendum.
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