These savings must be found despite increasing demand for council services, the spike in inflation meaning services cost more to run, and the huge knock on consequences across the public sector of the extended period of government austerity policies.
Lambeth is also grappling with the national cost of living crisis which continues to impact those with least, the high cost of housing and the extreme shortage of affordable homes that particularly effects local authorities in London.
Lambeth Council already had to find savings of close to £30million this financial year which is being achieved by making efficiencies, generating income by measures including bringing leisure services back in house, amending fees and charges, while also protecting key services for our most vulnerable residents.
Cllr 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. The council provides hundreds of services to Lambeth residents, and plays a key role in supporting the most vulnerable in our community.
“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 – but one that we are determined to meet.
“There has of course been a general election this month that has returned a new government to office. This government has inherited an economy that is flatlining post Brexit, public services in crisis and a huge public debt burden. Further, councils in England face a funding gap of more than £6 billion over the next two years according to analysis.
“We are determined to work with the new government on addressing the challenges the public sector faces, while acknowledging that there’s no quick fix here after a long term national failure to safeguard services. 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 in 10 days time on July 22. Visit moderngov.lambeth.gov.uk to read the full report.
