Though Conservatives have the largest number of councils, the combined totals of the other two parties form a majority.
Today Labour and Lib Dems have announced their partnership, known as the Progressive Alliance, will continue to control the council for another year.
Labour councillor Pete Marland will remain as leader of the council, and Liberal Democrat councillor Robin Bradburn will remain as deputy leader.
Pete said: “Over the past year, the Progressive Alliance has ran Milton Keynes Council by putting people before politics, and we were able to deliver on the priorities of our residents.”
“We’ve opened food larders, a new library and filled thousands of potholes. We’ve delivered new council homes, hired litter wardens and got fly-tipping to its lowest level in four years. Continuing the Alliance means we can keep delivering on what our residents want.”
Lib Dem’s Cllr Bradburn said: “This year, the Tory cost-of-living crisis is hitting the people of Milton Keynes hard. Residents are facing skyrocketing energy bills, the highest inflation rate in 30-years, a National Insurance tax hike, and the weekly shop going up by hundreds of pounds every year.”
“The government has let Milton Keynes down, but our priority is to help our residents. We’re running a second Summer of Play, helping to open more community food larders and providing £18 million in financial support in our budget, and we won’t stop there.”
He added: “Labour and the Liberal Democrats are continuing to put party politics aside to make sure we see Milton Keynes through the cost-of-living crisis.”
There are no changes to the Cabinet membership on Milton Keynes Council.
Earlier this month the elections saw MK bucked the national trend that lost the Conservative Party hundreds of councillors nationally.
Here, they lost two seats but gained back one from the Labour Party. This means they still have 23 councillors in MK, compared to Labour's 20 and the Liberal Democrat’s 14.
Immediately after the election, Labour entered into talks with the Lib Dems to form an majority alliance.