Published: Thursday 29 February 2024
Kensington and Chelsea Council has approved a balanced budget for 2024/25 at a Full Council meeting on Wednesday 28 February. Housing, supporting the most vulnerable and keeping the borough green and clean remain top priorities for Council finances.
Despite a challenging financial landscape for local government, the Council will offer around 16,500 low-income households a one-off £100 support payment, to support with the cost-of-living.
Across local government there are financial challenges due to increasing demand for services, rise in inflation costs and cuts from government funding. Increased costs in delivering services such as adult social care, children’s services and housing means councillors have taken the decision to increase Council Tax.
What are we investing in this year's budget?
A further £3.5 million for making schools net zero, £10 million for social care facilities in North Kensington and £12 million to support 2,100 households in temporary accommodation and supported housing. The budget includes over £84 million towards street cleaning services, collecting waste from over 97,000 households, and maintaining streets.
The Council is also increasing Council Tax charge for empty homes. Homes empty for one year or more will now pay up to 100 percent premium rate of Council Tax. Previously this additional premium has kicked in after two years. The move is expected to bring in £871,000 which will help support housing demand.
How much is Council Tax going up this year?
The Council has agreed a modest increase this year – with the Council’s own precept increasing by 2.99% and social care contributions increasing by 2%. This 4.99% increase means an average Band D property (excluding garden squares) will rise from £988.26 to £1,037.58, an increase of £49.32 from last year. This increase is less than £1 per household per week for a Band D property.
Cllr Johnny Thalassites, Lead Member for Finance, Customer Delivery and Net Zero said:
“There are financial headwinds in Kensington and Chelsea, as there are across London. Despite that, we are working hard to become the best for a borough that is greener, safer and fairer.
“That includes a £3.5 million cash injection to make every Council school net zero, £10 million to improve adult social care services in North Kensington – and £100 back in 16,500 households’ pockets across the borough to help with the cost-of-living.”
You can read the full budget report by visiting the website. The Council’s budget plan and Council Tax webpage for 2024/25 will be updated soon.