The results of the complex settlement made by the Department for Communities and Local Government means that LBL has to find an extra £13m in cuts over and above the £60m it has already budgeted for.
Lewisham’s Mayor Steve Bullock announced this depressing news in his recent mayoral E-newsletter – see the key paragraph below:
“The Council had been planning to have to reduce its budget by £60 million over the next three years. Following the recent announcement, it now seems it will be forced to find a massive £89 million over the coming four years. Next year alone it is facing a reduction of £33 million.
These figures add up to the greatest financial challenge the Council has ever had to face. So far we have been able to meet most of our savings through efficiencies and have protected services to the most vulnerable. We had been expecting to reduce our budget by around £20 million next year – now we know we have to increase that amount by a further £13 million.”
For the Mayor’s full message see http://www.sydenhamsociety.com/2010/12/message-from-mayor-of-lewisham/