Conservative councillors have called an extraordinary council meeting for Thursday 7th November 2013.
They have put forward a motion which states they have lost confidence in the council's leadership because of recent examples of 'financial mismanagement', and want those responsible to step down.
Cllr Anna Wright, Slough Conservative Group Leader promised to uncover examples of financial mismanagement by her Labour colleagues.
"The message which we want to show the tax payers is to look carefully at what Labour and what the council is doing," she added.
She pointed to a recent transactional service contract with arvato, which was meant to save the council £26.5m, but a miscalculation led to a £1.1m overspend.
"We have got lots of issues on our financial situation which we are going to reveal at the council meeting," said Cllr Wright.
"We are not happy with what is happening here."