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Budget Consultation
Each year setting the council’s budget is extremely challenging because the money we get from the government is just not enough to meet the needs of our residents and communities. The core funding Haringey receives from government is £143m less in real terms this year than it was in 2010/11.
To get more detail about the Budget proposals please read the Budget Consultation information document in the Document Library.
This year a combination of factors is making the position even more difficult. This includes:
- Inflation leading to significant rises in costs
- Increasing demand for Adult Social Care
- The housing crisis leading to increased homelessness and rising rents
- High interest rates leading to higher borrowing costs
- The cost-of-living crisis meaning that more residents need our support
This is a story being replayed up and down the country. Councils across London have a collective shortfall this year of around £600m. Despite Haringey being one of the boroughs with the highest levels of deprivation in London, as an ‘outer London’ borough we receive lower levels of funding than many neighbouring ‘inner London’ councils, such as Islington and Camden.
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