An independent assessment of Harlow Council’s finances has seen its credit rating improve again to AA-, putting Harlow well above the national local authority average and comparable councils.
The improved rating comes as two reports to Cabinet on Monday 14 September set out the council’s continued strong financial performance.
The reports show that the council:
- is on course to deliver its 2026/27 budget in full
- has delivered three consecutive General Fund budget surpluses
- met all of its key financial tests during 2025/26
- has achieved this while freezing its share of council tax for five consecutive years
- is managing a budget that has more than doubled in two years, reflecting the significant increase in investment across Harlow
Residents often ask how the council is able to invest so much in the town while continuing to freeze council tax. The reports set out how stronger and more rigorous financial management is helping to make that possible.
The reports say that the council is:
- cutting unnecessary costs and bureaucracy
- closely controlling spending
- generating more income
- driving better returns from its commercial property and other assets
- individually tracking savings and income targets to make sure they are delivered
The council says this approach is enabling it to invest on a scale Harlow has not seen before while maintaining its financial strength, keeping council tax frozen and dealing with rising costs and pressures from things like National Insurance Contributions and energy bills.
Commenting on the council’s financial performance, Councillor Dan Swords, Leader of Harlow Council, said:
“Our approach is simple: keep council tax down, strengthen our finances and invest to Build Harlow’s Future.
“Residents often ask me how we can invest so much while keeping council tax frozen, and these reports help explain how. We are managing the council’s finances rigorously, cutting unnecessary costs, significantly increasing our income and getting better returns from our investments and assets.
“Our credit rating improving again to AA-, now well above the national average and comparable councils, is important independent recognition that this approach is working.
“We have frozen council tax for five years, delivered three consecutive General Fund budget surpluses and are on course to deliver this year’s budget in full – while investing more than ever before in our town.
“We are proving that ambition and financial discipline can go hand in hand. By making every pound work harder, we can keep the council financially strong while delivering the scale of investment and change Harlow deserves.”
Councillor James Leppard, Cabinet Member for Finance, added:
“Strong finances are the foundation for everything we want to deliver for Harlow.
“Our job is not simply to balance the books for one year. It is to make sure the council remains financially strong for the long term, so we can continue investing in our town, improving services and keeping the burden on Harlow taxpayers as low as possible.
“That means rigorous financial management every day: challenging expenditure, delivering efficiencies, improving returns from our commercial assets and closely tracking the savings and additional income agreed through the budget.
“The results are clear: an improved credit rating, three consecutive General Fund surpluses, all of our key financial tests met and this year’s budget on course to be delivered in full.
“We will maintain that discipline so Harlow can continue to invest with confidence in the future.”
The Corporate Performance, Finance and Risk Report and Annual Treasury Management Report for 2025/26 will be considered by Cabinet on Monday 14 September.