Inner-city London councils, particularly Camden, are projected to lose over 10% of their funding under a proposed funding shake-up. The changes, meant to redistribute cash from wealthy areas, may also significantly impact economically deprived northern areas such as South Tyneside and Sunderland. The Institute for Fiscal Studies found the government's funding proposals surprisingly non-redistributive towards highly deprived urban areas. The review process aims to create a fairer system to target funding effectively, but initial findings reveal potential dramatic financial impacts on councils across England.
Despite promises to redistribute cash away from wealthy areas, deprived inner-city London councils, including Camden, may lose over 10% of their funding under proposed changes.
The government's proposed funding formula changes could result in significant financial losses for economically deprived northern areas like South Tyneside, Sunderland, Gateshead, and Wigan.
The Institute for Fiscal Studies expressed surprise that the proposed funding formula was not more focused on deprivation, suggesting some traditionally high-needs areas could lose millions.
The consultation announced last autumn aimed to create a fairer funding system targeting money where it is most needed, yet the findings contradict this expectation.
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