FINANCE

£50m of exceptional financial support agreed for Lambeth LBC

The Government has agreed in principle up to £50m of exceptional financial support for Lambeth LBC.

The Government has agreed in principle up to £50m of exceptional financial support for Lambeth LBC for 2023-24 and 2024-25.

Lambeth joins 19 other local authorities that have agreed in principle capitalisation directions.

The council's financial difficulties are in part related to costs associated with a redress scheme for historic child abuse cases.

Lambeth said increased numbers of people coming forward to access the scheme drove up costs from £125m to between £155m and £172m.

A report by the Chartered Institute of Public Finance and Accountancy found Lambeth had ‘robust arrangements and processes to ensure sound financial and risk management and sustainability'.

However, it recommended the council ‘reinforces the need to deliver on its savings programme and continues to hold directors and lead members to account for delivery'.

Last year Lambeth's leader Claire Holland warned the sector's finances were now at a 'critical point'.

FINANCE

EXCLUSIVE: Coventry equal pay bill could be more than £30m

By Dan Peters | 05 June 2025

Coventry City Council could face an equal pay bill of more than £30m, The MJ understands.

FINANCE

Council could slash one in 10 jobs

By Joe Lepper | 23 May 2025

More than one in 10 jobs could be lost at Croydon LBC as it looks to tackle its £1.4bn debt.

FINANCE

Council plans further Exceptional Financial Support bid

By Dan Peters | 14 May 2025

Windsor & Maidenhead BC expects it will need to agree a package of Exceptional Financial Support (EFS) with the Government for next year, it has announced.

FINANCE

The race to embrace transformation

By Martin Ford | 30 April 2025

Amid turbulent times for council finances, the new president of the Society of County Treasurers, Rob Powell, spoke to Martin Ford about his priorities for t...

Popular articles by William Eichler