Croydon Council is currently grappling with a £98m budget shortfall and has requested a £136m bailout from the government following a £35m overspend this year. The council attributes its financial struggles to rising costs associated with homelessness and social care, alongside increased demands for children’s placements. As a consequence, proposals for rising council taxes and substantial service cuts have emerged. Since Mayor Jason Perry's election in 2023, council tax in Croydon is expected to increase by 25% by April 2025, raising concerns about the sustainability of local services amidst ongoing fiscal distress.
Croydon Council is seeking a £136m bailout from the government due to a projected £98m shortfall, citing increased demand for services and rising costs.
The Conservative-led council attributes its financial woes to rising homelessness, social care needs, and children's placements, leading to increased council tax and service cuts.
Perry promised to tackle the borough's £1.4bn debt when elected, but under his leadership, Croydon faces severe budgetary challenges, resulting in more cuts to essential services.
Croydon went bankrupt in 2020 and declared bankruptcy a third time in November 2022, highlighting the ongoing fiscal crisis and challenges in service provision.
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