Wakefield District Investment Fund launched as 2026/27 budget plans set for approval
Monday, February 09, 2026
Wakefield Council’s Cabinet are set to agree budget proposals for 2026/27 – including plans for a landmark £3.55 million District Investment Fund – at their meeting on 17 February.
“Our budget this year shows what a difference having an experienced leadership team focused on the priorities of our residents makes.
“Councils up and down the country are struggling. But we’ve taken responsible decisions in Wakefield. That means we can protect essential frontline services. Invest to help the people who need it most. And continue to have the lowest Council Tax in West Yorkshire.
“This budget is about the things you see most in your community. Maintaining our roads and emptying our bins. Improving our parks, green spaces, and high streets. Caring for our most vulnerable residents. And giving our young people the best possible start in life.
“Our District Investment Fund is a key part of our plan. Helping families with the cost of school uniforms and childcare. Improving access to training and leisure opportunities for our young people. And supporting our most vulnerable pensioners with a winter fuel payment.
“All of these things are only possible because we’re a well-run Council that takes sustainable, long-term decisions in the interests of everyone who lives in Wakefield.”
Cllr Denise Jeffery
Leader of Wakefield Council
The £3.55 million District Investment Fund comes from profits after the winding-up of Bridge Homes, a Wakefield Council and Vico Homes affordable housing joint venture. The fund will:
- Provide £2 million of support to local families with school age children to help with the cost of school uniforms
- Give a one-off winter fuel payment of £50 for pension aged recipients of Council Tax support, costing £500,000
- Provide £100,000 to support 16 to 18-year-olds to access training and education
- Respond to a shortage of accessible childcare provision with £40,000 of funding
- Help make activity more accessible by providing new, tailored free Aspire Ignite memberships for 16 to 24-year-olds, costing £620,000
The 2026/27 budget also includes an update on the Council’s Capital Programme. This includes a significant focus on investment in parks and play areas right across the district. As well as an additional £2 million per year that will be spent over the next three years to improve the condition of roads across the district, £6 million of new investment on one of the top priorities for residents.
The budget will be balanced through work to deliver £11.5 million of savings to modernise how the Council works. And by raising £11.9 million of additional income, including £9.7 million by raising Council Tax and the Adult Social Care Precept by a combined 4.99%.
Wakefield is set to have the lowest Council Tax in West Yorkshire after this increase. It equates to an extra £1.72 per week for Band D households and £1.15 per week for Band A households.
“This is a responsible and honest budget. It shows the value of an experienced leadership team with a clear plan to move our district forward and deliver for our communities.
“We’re protecting our frontline services and investing in the things that matter most. The only way to do that sustainably is to balance being more efficient, raising income, and increasing support where there is rising demand for key services. Any other approach would be deeply irresponsible.
“When Councils in other parts of the country take that risk, it always leads to services being slashed to the bone. Much higher Council Tax rises in the long-term. And the most vulnerable in local communities suffering the most.
“We will never take a gamble with Wakefield’s future.”
Cllr Jack Hemingway
Deputy Leader of Wakefield Council
The meeting of Cabinet takes place on Tuesday 17 February at 10.30am. People can watch it live or later at Wakefield Council - Cabinet meetings - YouTube.
If accepted by Cabinet members, the plans will then move to a special meeting of Full Council for formal consideration on 2 March.
You can read more detail in the Cabinet report at https://mg.wakefield.gov.uk/documents/s136566/Revenue%20Budget%20and%20Council%20Tax%20202627.pdf