Islington Council sets balanced budget

At a Full Council meeting on 29 February, we set our budget for 2024-25. We agreed to spending plans that mean we will set a balanced budget for the next financial year, as well as calling on action from Government on fair council funding, proper funding for council housing and settlement for adult social care.

Our budget prioritises frontline services and building a more equal Islington including building more council homes, helping people into work and investment in a cleaner, healthier borough, including School Streets and Liveable Neighbourhoods. 

But the impact of years of central Government cuts to council budgets, inflation, soaring costs, and high demand for services has put immense pressure on our budget. Since 2010, our core spending power to pay for local services has been cut by an estimated 45%. In 2024/25 we will have to make further savings of about £10.8 million, on top of over £300 million since 2010. 

Despite these financial challenges, we’ll keep prioritising the services that matter most to local people, such as libraries, youth services and bin collections, as well as our substantial existing safety net for our most vulnerable residents. However, Government underfunding can’t continue without impact on frontline services. 

You can read the full details in the budget papers here

Contact information

If you are a member of the public with a general question about the council please view the contact information on our website or call 020 7527 2000.