Mayor Morgan Reports Strong Progress and Fiscal Discipline in 2026 Budget Update

Mayor Josh Morgan has released his 2026 Annual Budget Update, outlining continued progress on key city priorities and significant steps to strengthen London’s financial position while delivering on the commitments made in the 2024–2027 Multi-Year Budget.

The update details how the Mayor and City Council have advanced initiatives that improve community safety, expand housing and homelessness supports, enhance public transit, and protect the essential services Londoners rely on every day. These actions reflect the City’s ongoing work to manage growth responsibly while improving quality of life across all neighbourhoods.

London continues to earn recognition across Ontario for its leadership and innovation. From the expansion of HART Hubs to support the city’s most vulnerable residents, to permitting times for new housing that rank among the best in the country, Mayor Morgan’s plan continues to deliver meaningful, measurable outcomes for the community.

“I’m proud to share this update and the progress we’ve made in the past year. I want to recognize Council, Budget Chair Peloza, and City employees for their collaboration on our collective goal to deliver financial stability while making smart investments in our communities,” said Mayor Morgan. “It proves that when we work together toward a shared vision, we can tackle local issues through focused spending while ensuring London is a more affordable place to live.”

The Mayor’s update also highlights strong fiscal management during a time of affordability pressures for residents and businesses. In partnership with the Province, Mayor Morgan successfully pushed for clarity on Development Charge exemptions, ensuring costs are not passed on to residents’ property tax. He also directed City departments, boards, and commissions to identify savings and efficiencies across their budgets.

As a result, London has achieved a 2026 property tax increase of 3.6%, well below the previously projected figures. Forecasted increases for 2027 have also been reduced to 4.7%, fulfilling the Mayor’s commitment to bring property tax increases below 5% while maintaining and improving core services.

The City’s Aaa credit rating remains intact, debt is being avoided, and London continues to invest strategically in long-term priorities. These actions reflect Mayor and Council’s balanced approach to growth, ensuring that progress, sustainability, and accountability move forward together.

“Thanks to our emphasis on bringing costs down for Londoners, we’ve not only fulfilled my pledge to rein in property tax increases but gone further, with both this year’s increase and next projected well below my targeted 5%,” said Mayor Morgan. “This commitment to fiscal responsibility and debt management protects residents, maintains our top credit rating and financial flexibility, and secures our city’s future.”

The 2026 Annual Budget Update demonstrates the Mayor’s clear vision for a city that is growing responsibly, investing wisely, and remaining focused on building a safer, more connected, and more compassionate London.