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‘Impossible’ £4.7bn funding gap in London means 17 boroughs likely to need emergency borrowing

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Half of London boroughs could require emergency support by 2028 as they face an “impossible” cumulative £4.7bn funding gap over four years.

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That figure is based on a survey of all 33 London local authorities organised by the Society of London Treasurers, with boroughs’ funding shortfall

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A large cohort of CFOs have been put back into a “washing machine of turmoil” following the government’s decision to pause and review local government reorganisation (LGR).

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