The report outlines how we intend to balance the budget including more details around our application to the government for Exceptional Financial Support (EFS).
“Ever-growing demands, increased population, rising costs and more than a decade of government austerity has put untold pressure on councils across the country including Haringey.
“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.
“To ensure we can deliver on our priorities we have been in discussions with the government for up to £37million of Exceptional Financial Support to be made available if it is required for 2025/26. This is like having an approved overdraft and can be drawn on if needed.
“I am confident that the government will approve this support, and we will continue to reduce pressures on the most in-demand areas and protect our frontline services.
“We will also be bringing forward further savings proposals during the year to bridge the budget gap further in the light of independent reviews undertaken across all of our services and reduce the amount we finally need to draw down.
“We welcome the additional £16million resources we have received from government. However, they were never going to be able to reverse 14 years of austerity in one budget.
“It means we will continue to lobby government for a fairer funding system which recognises the needs of local populations and provides adequate resources to meet all the responsibilities that we have.”
