The bulk of the council’s new income will be through a 5.6% increase to parking fees, which it says will net £1.1m, reports Sebastian Mann, Local Democracy Reporter

Waltham Forest Council has approved a series of cost hikes ahead of next year’s budget.

The changes reach far and wide, ranging from increases in fines, the cost of running a market stall, and parking.

The new programme of fees and charges was backed by Labour councillors at a full council meeting earlier this month.

Overall, it is expected to increase the council’s annual income by £1.5million, bringing it to £51.3m.

Linda Murray, the council’s head of financial strategy, said the increased revenue would “form a substantial part of the council’s budget” and help offset budget pressures in 2026/27.

Waltham Forest is facing an overspend of £31m by the financial year’s end, according to figures released in September.

The following month, council leader Grace Williams said the situation was becoming “tougher and tougher” and revealed it needed to make £15m in cuts – an increase of £5m on the year before.

Few hikes will directly affect residents’ day-to-day lives, and there has been no indication of whether council tax will climb by the typical 4.99%.

The bulk of the council’s new income will be through a 5.6% increase to parking fees, which it says will net £1,136,500. Currently, motorists pay £1.90 for 30 minutes’ parking and £2.90 for one hour at a pay-and-display car park.

Casual market traders in the borough will see their fees rise by 5%, while permanent traders will pay an extra 2%. In a report presented to councillors, Murray said the uplift aimed to “strike a balance between cost recovery and supporting local enterprise”.

Changes will also be made to how parents and guardians are fined for children missing school through unauthorised absences.

They are currently handed a £120 penalty each, which is reduced to £60 if paid within 21 days. Under the new scheme, that discount will be raised to £80.

The town hall hopes this will bring in £40,000 next year, depending on the number of penalties issued.

Each year, councils set their own budgets based on income from council tax and business rates and funding from central government.

The council’s outgoings and revenue must be balanced, which has become increasingly difficult for authorities facing large overspends, such as Waltham Forest.

As a result, many councils will look to increase their revenue through hiking council tax and other fees, while also cutting funding for services.

Fees should only be increased in order to recoup outgoings, and councils cannot turn a profit.

The Waltham Forest budget-setting meeting is currently scheduled for 26th February.

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