London council declares 'funding emergency' as it applies for £37million in Government bailout cash
London council declares 'funding emergency' as it applies for £37million in Government bailout cash
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A London council has declared a “funding emergency” and asked the government for up to £37million to help it stay afloat. Haringey is facing ever-growing demands due to rising costs and a growing population, its council leader Peray Ahmet has said.
Ms Ahmet has also warned that Haringey is facing “untold pressure” following “more than a decade of government austerity”. In a statement after the council published its budget report for the next year, the council leader said: “We are a borough with outer London levels of funding but inner London levels of need.
“In recent years the reality has been that we have less money to serve more people who require more services which have become more expensive to provide. “As a result of this we are facing a funding emergency. “Despite the difficult financial challenges, we have been working hard to deliver a balanced budget for 2025/26, and we are wholly committed to protecting and delivering services which matter most to residents.”.
The council leader explained that Haringey has been in discussions with the government for up to £37million of “exceptional financial support” to cover day-to-day spending and look after vulnerable residents. She described the extra funding as being like “having an approved overdraft and can be drawn on if needed”.
