Lambeth council report lays bare scale of huge budget challenge
Lambeth council has today published a report setting out the scale of the financial challenge it faces at a time of ongoing pressures on local government finances.
According to the report, the council may need to save £69.9million by 2028, including a savings target of £29.3million for next year.
The savings must be found in the face of increasing demand for council services, increased services cost due to inflation, and the consequences of government austerity policies.
The local authority said it is also grappling with the national cost of living crisis, the high cost of housing and the shortage of affordable homes.
Lambeth already had to find almost £30million in savings this financial year by introducing measures including bringing leisure services back in house and amending fees and charges.
Councillor David Amos, Lambeth’s Cabinet Member for Finance, said: “We face an incredibly difficult challenge in setting a balanced budget due to the amount of savings we have to find.
“We will continue to do all we can to protect those services while looking for new ways to be more efficient, make further savings and continue our income generation efforts.
“This is a challenge that gets ever harder as we have faced this challenge for an ongoing period.”
Cllr Amos said the council is “determined” to work with the new Labour government to address the challenges faced by public services.
He said: “Councils in England face a funding gap of more than £6billion over the next two years.
“I am optimistic that the new government is committed to the measures that will improve the outlook for the country and that will in turn improve the situation for front line services of the kind that Lambeth council provides.”
The ‘July Financial Planning and Medium Term Financial Strategy 2024/25 to 2028/29’ will be considered by Lambeth council’s Cabinet on July 22.
Visit moderngov.lambeth.gov.uk to read the full report.
Pictured top: Lambeth council’s town hall in Brixton (Picture: Robert Firth)
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