A report from the Local Government Information Unit highlights dire financial pressures on London boroughs, with only 10% of senior council officials confident about sustainability. The expected funding shortfall of £500m for 2025-26 is attributed to years of underfunding, surging demand for services, and rising costs. In light of this, London Councils is advocating for significant government investment during the Spending Review to restore funding levels to 2010 rates by 2028-29, ensuring that councils can maintain services and support economic growth.
Cllr Claire Holland highlighted that a combination of structural underfunding, rising demand, and spiraling costs has led London boroughs toward financial instability.
London Councils reported a funding shortfall of at least £500m for the coming year, emphasizing the urgent need for government investment in local services.
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