That 2p National Insurance tax cut already feels like a lifetime ago. Londoners in almost half of local authorities will from April pay average council tax bills higher than £2,000 per year. It comes as the Mayor increased his portion of bills, the so-called “precept”, by 8.6 per cent.
Clearly, London’s councils are facing huge funding pressures. Indeed, many are on something of a financial cliff edge, thanks to a perfect storm of higher costs and ever-rising demand, particularly for social care and housing. At the same time, they have endured a 27 per cent real-terms cut in core spending power since 2010, according to the Local Government Association.
