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Budget: How Hackney Council is rising to the challenges
27th February 2025
Like all local authorities, Hackney Council is facing extreme financial challenges. More people rely on local services than ever before, and more council funds are being used in a small number of areas like social care, support for vulnerable children, and housing for people at risk of homelessness. That means difficult decisions, but it doesn’t mean investment in a better Hackney will stop. These are some of the ways the Council is rising to the challenges.Using external fundingThis year’s budget includes £147m in external grants for specific projects, providing extra funds to invest in the borough.Work to transform Amhurst Road and Pembury Circus is now underway as part of the Council’s plan for a greener, safer and healthier Hackney Central, supported by £19m in new ringfenced investment directly from the government.Investing for the long-termThis year’s budget includes more than £500m on capital spending to improve parks, homes, leisure centres and other things the Council owns. This includes £11.4m this year to begin the landmark transformation of Kings Hall Leisure Centre – a major investment now, but one that will provide a state of the art facility for decades to come.Spending to saveFrom children’s homes to temporary accommodation, spending in the right areas now can help the council reduce its costs in the long-term, protecting investment for frontline services.For example, this year’s budget includes spending nearly £2m to upgrade Hackney’s CCTV networks, which helped secure more than 700 arrests last year. By investing in better, more efficient equipment now, it reduces day-to-day operation costs.Protecting frontline servicesThe Council will have to make £25m in savings for 2025-26, and on current estimates over £50m more over the following three years.As much of this shortfall as possible is being made up from changing how the Council works behind the scenes while protecting services for those who need them most. However, where changes are being made to the services for residents, these decisions are being made carefully, transparently and to prioritise the needs of Hackney’s most vulnerable residents first.Find out moreNew council budget agreedMayor Woodley: I want to go further and make Hackney even betterBudget: where our money comes from and how it's spent
"I want to go further and make Hackney even better": Mayor Woodley on the Council's budget
27th February 2025
Hackney is London’s best borough. That’s why I made it my home many years ago, raised my son here, and in 2023 took up the huge honour of becoming Mayor of Hackney.Across the country, councils face big financial challenges. More people rely on us than ever before, and more of our funds are being used in a small number of areas like social care, support for vulnerable children, and temporary homes for people at risk of homelessness.By law we have to balance our budget, so this year we have to make nearly £25m in savings and increase the Council’s element of your Council Tax bill by 4.99% from April. We also plan to use £10m from the Council’s reserves to help fund services over the next year – a move that is not sustainable and that we will be unable to repeat in future years.These steps help us remain stable at a time where other councils are forced into asking the government to permit them to borrow extra money, seeking to raise Council Tax far above standard increases, or cutting back on Council Tax discount support for low-income families. Our Council Tax rates are still among the lowest in London, and this year we are maintaining discounts of up to 90% for working households on low incomes.Your contributions also mean that we can continue to provide vital support for Hackney residents. They fund foster carers, pay for the growing cost of providing social care, and put a roof over the heads of families hit hardest by Hackney’s housing crisis.As your Mayor, doing my best to protect the most vulnerable is my priority. But I want to go further and make Hackney even better – by tackling the housing crisis head on, addressing the root causes of poverty and inequality, and continuing to lead the way in the fight against climate change.Doing that when budgets are stretched will mean rising to the challenge and doing things differently. We will inevitably still have tough choices to make. We will need to change how we work to reduce costs while improving services, invest now to save money in the long-term, and seek extra funding to deliver on our ambitions.We’ll need to work together, and change together. But by doing so, we can build a fairer, safer, greener and healthier Hackney, for everyone.Caroline WoodleyMayor of Hackney Find out moreNew Council budget agreedBudget: where our money comes from and how it's spentHow Hackney Council is rising to the challenges