Croydon Council will receive £136 million in “exceptional” financial support from the government for the 2025/26 financial year.
The Ministry announced £136 million for Croydon yesterday. This money is for the 2025/26 financial year. Croydon is in South London. Five more London councils will also get money.
Barnet, Enfield, Haringey, Havering, and Newham are included. Their funding ranges from £10 million to £88 million.
Lambeth council also receives money. It will get £40 million for its Housing Revenue Account. This account faces many financial pressures. Lambeth is the only council getting this kind of special funding. The money is specifically for managing its housing.
Jim McMahon spoke about council finances. He is a Minister for Local Government. He wants to help councils rebuild. McMahon encouraged councils to ask for help. He promised a supportive partnership. He said it would not be a punishment.
London Councils acknowledged the funding announcement. They think “emergency measures” is misleading. They are a group with members from various parties. The group fears this funding burdens councils with debt. They claim it does not stabilize their finances.
Cllr Claire Holland is Chair of London Councils. She said the funding is not “exceptional”. She said it does not give sustainable support. Holland said councils need to borrow to maintain services. This measure gives more long-term debts. It does not resolve the financial crisis.