London Councils warns borough budgets are on 'knife edge'

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London Councils warns borough budgets are on 'knife edge'
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London councils face a combined shortfall of £400m in 2023, rising to £500m next year, figures show.

London Councils said the capital's boroughs faced a collective shortfall of £400m in 2023, rising to £500m next year

The cross-party group said the capital's borough councils faced a collective shortfall of £400m in 2023, rising to £500m next year. It said the authorities were facing a "perfect storm of prolonged high inflation, fast-increasing demand for services and insufficient government funding".

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