Peterborough City Council in Cambridgeshire published its Three-Year Medium-Term Financial Strategy on 3 February 2026, which aims to keep the local authority’s spending on track through the 2028/29 financial year (to 2029). The plan outlines how the council will fund essential services such as waste collection and social care for children and adults over the next three years.
The city expects to receive a A376 million increase in core spending power by 2028/29 as a result of the Government’s Fairer Funding review. Local leaders say this uplift will help the council strengthen its budget position, rebuild reserves and protect everyday services, while financial risks remain.
According to a national report, the council was carrying debt of roughly A3526 million by the end of the 2024/25 financial year. The MTFS includes measures such as asset rationalisation (selling under-utilised properties where appropriate) and a stronger emphasis on early intervention and prevention in social care to reduce long-term costs.
Councillor Mohammed Jamil, Cabinet Member for Finance and Corporate Governance, said the plan provides an opportunity to redesign how services are delivered to residents. Residents were invited to give their views through a public consultation launched on 14 October 2025 (which ran to 25 November 2025). The final budget and Medium-Term Financial Strategy are scheduled for approval by Full Council on 25 February 2026.
