Our draft budget for 2026/27 will go to Full Council on Wednesday 25 February, marking the final step towards setting a sustainable financial plan for the year ahead.
The challenges are significant
Rising costs, increased demand for services and the impact of Local Government Reorganisation (LGR) mean we must find £5.8M million in savings, service redesigns, efficiency improvement, and greater use of technology.
What you told us was important to you
Feedback from the 2026/27 budget consultation and Residents’ Panel played an important role in shaping our plans. Keeping your priorities at the heart of the budget, including housing and wellbeing and parks and open spaces, play areas and leisure facilities
Cllr Mark Cory, Portfolio Holder for Resources, said: “This budget reflects the hard work we’ve done to stabilise our finances while protecting the services residents depend on. By tightening our processes, managing cost responsibly and driving forward our Fit for the Future programme, we have closed a significant budget gap and put the council on a more secure footing. There is more still to do, but this budget takes us in the right direction and supports a sustainable future for our city.”
Cllr Julie Young, Deputy Leader of the Council, said: “We are proud to deliver a budget that, despite the challenges we face, puts our communities first - investing in the areas of greatest need, bringing forward new housing, and reducing the number of families facing homelessness. We have taken independent expert advice to ensure our approach remains affordable and sustainable for the long term.”
Cllr David King, Leader of the Council, said: “We have a robust budget, confirmed by independent advice. That allows us to continue to invest in our city’s future. To make sure we remain a great place to live, work or visit. At the centre of any new council that gets formed in north Essex. With change for the better at the heart of all we do.”
Investing in Colchester’s future
Despite financial pressures, the council remains ambitious for the city. Major investment continues, to protect heritage, enhance cultural spaces and improving the city centre. including:
- Investment in community facilities
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Colchester Castle roof repairs
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New gallery designs at the Natural History Museum
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Public realm improvements at St Botolph’s
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Refurbishment of 37 playparks across the city
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£8 million to be invested in Leisure World
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A new cinema opening this spring at Northern Gateway
These projects demonstrate the council’s commitment to protecting heritage, enhancing cultural spaces and improving the city centre.
Next steps
Full Council will consider the final budget proposals on 25 February 2026. If approved, the budget will shape our financial and service plans for the coming year and help secure a balanced position for 2026/27, while supporting long-term planning through the Medium Term Financial Forecast (MTFF) to 2030/31.
How you can stay involved
Full Council will discuss the budget proposals on 25 February 2026. If you’re interested in the detail, you can read the Full Council papers and follow the discussion either by attending the meeting or watching the live audio stream on our website.
This is a topic we discuss regularly at our Residents Panel meetings. Find out more about becoming a member of our Panel.
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