In today’s Spending Review, the Chancellor announced that government will “provide billions of pounds in the fight against coronavirus, deliver on the promises it has made to the British people and invest in the UK’s recovery”.
London boroughs face a projected collective funding shortfall of £1.1 billion this year. In Kensington and Chelsea, the Council will make £10m in savings next year.
Cllr Mary Weale, Lead Member for Finance, said:
“The Spending Review reassures us that we will get financial support to help our communities get back on their feet. Investment to help us with Covid-19 recovery and support to end rough sleeping is welcome but this has been a tough year for everyone and there are still some funding gaps.
“So far, the government has provided our borough with £16.3m in support which has been a great help but we still need to find £10m in savings next year.
There are difficult decisions to come and residents can have their say now on our budget proposals for the next financial year.”
The Council is currently consulting on budget proposals for the next financial year. Residents can have their say online until 21 January 2021. The Council’s Leadership Team will make a final decision on the budget in February 2021.