New £5m fund as council makes it happen for residents

Today (Thursday, 15 January), the council has put forward proposals for a budget that puts residents first – by maintaining vital support, strengthening frontline services, and investing in a more equal borough. 

At the heart of this year’s proposals is a new £5 million fund designed to help deliver on the issues that matter most to local people. The fund will be used to help deliver on resident priorities, with further information to be announced in due course.

It’s all part of the council’s efforts to create a more equal borough, and to make it happen through real, tangible change that local people can see and feel. Other ways the council is taking action in its proposals include: 

• A £324m increase in the budget for investing in current council housing, helping to ensure that people across the borough have a safe place to call home. 
• Spending more than £58m on property acquisitions, so that homes continue to go to those that need them most. 
• Committing to creating a new 1.5 hectares of green, healthy space for local people to enjoy. 
• Maintaining one of the most generous Council Tax Support Schemes in the country, to help ensure no-one is left behind – a commitment of around £28m which more than 24,500 households are set to benefit from. That’s roughly one in five Islington households.

Cllr Flora Williamson, Executive Member for Finance and Performance, said: “Residents across Islington continue to feel the impact of rising costs, and we know how important it is that the council stands firmly alongside those who need support. 

“This Budget is about delivering for local people — protecting vital support like our Council Tax Support Scheme, and investing in the improvements that make a real difference to everyday life. 

“Our new £5 million fund is will help us move faster on the issues that matter most to our residents. Despite the challenges facing councils nationally, we remain absolutely committed to making it happen for Islington.” 

Islington’s significant investment in the local community comes amid a challenging financial backdrop, with the cost of and demand for services continuing to rise steeply. 

In their funding allocations, central Government assumes that councils like Islington will increase council tax by the maximum amount possible – and not doing so would lead to them reducing Islington’s budget.

That’s why, like councils across London, Islington has increased council tax this year by 4.99% – including applying the Government’s two per centre adult social care precept.

For the average Band D property, this will equate to a rise of around £1.74 per week for full council taxpayers. As set out, the council goes above and beyond to support financially-vulnerable residents, by running one of the country’s most generous Council Tax Support Schemes.

The scheme sits alongside the council’s Income Maximisation Service, which has helped residents secure more than £16.2 million in additional income since April 2024.  

Notes to editors 

The draft budget proposals are set out in the papers for the upcoming Executive meeting on Thursday, 22 January. They are then set to be voted on at the Full Council meeting on Thursday, 26 February.  

A statutory consultation on the proposals is also open until Tuesday, 3 February, so residents can have their say.