London Councils warns that despite welcomed funding increases, borough finances will remain "stuck in survival mode" as a £500m shortfall looms amid high service demands.
With homelessness numbers reaching a record high, the government's increase in the Homelessness Prevention Grant is recognized as a "step in the right direction," aiming to alleviate some pressure on local finances.
London boroughs face a homelessness emergency, with over 1 in 50 residents in temporary accommodation, reflecting an urgent need for a more sustainable funding approach to prevent further crises.
Boroughs are projected to overspend by £270m on homelessness budgets in 2024-25, driven by a dramatic 68% increase in temporary accommodation costs in just a year.
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