Commenting on a report commissioned from PricewaterhouseCoopers LLP by the County Councils' Network on local government finance in England, which revealed that councils face a £50 billion black hole over the next six years, Cllr Peter John OBE, Chair of London Councils, said:
“This report adds to the growing body of evidence that councils across the country are in an increasingly precarious financial position, which is taking an unacceptable toll on our communities.
“Core funding for London boroughs has fallen by 63% since 2010 and we need to make £2 billion more savings between 2018 and 2022 to balance our books.
“Vital local services such as children’s social care are under pressure, compounded by huge amounts of uncertainty about the next Spending Review and business rates retention which are due to take effect in April 2020 – less than a year away.
“The entire sector is crying out for more certainty over our finances and better recognition of the costs we face. No matter what type of local authority you look at, we are united in the scale of the financial challenge we face and the need for the Spending Review to offer us all a long-term, sustainable funding settlement.”