Waltham Forest Council’s finances said to be a “huge concern” and a “priority” for the newly-elected administration, reports Sebastian Mann, Local Democracy Reporter
Green Party councillors are conducting a “thorough review” of Waltham Forest Council’s troubled finances after winning control of the town hall.
The Greens uprooted Labour last week when they won a small majority of 31 councillors, despite starting from a base of zero.
Labour is now the official opposition group, with 15 councillors.
A spokesperson for Enfield Greens has said that “council finances are a huge concern” and “understanding the full extent of the situation is our priority”.
“As we didn’t have any councillors on the previous council, we’re only now able to access the records and will be conducting a thorough review,” they said.
“We also want to work constructively with officers and re-elected councillors from other parties who will have plenty of experience and local knowledge to share about this.”
The two biggest strains on the council’s coffers are temporary accommodation and social care.
They account for a combined 70% of the council’s spending and authorities must provide them by law. This makes it difficult for councils to then fund other schemes, such as financial support for residents or cultural events.
The Greens have called the housing shortage “one of the biggest challenges both nationally and locally,” with residents “suffering from a lack of affordable properties and insecure renting”.
In February, Labour councillors voted to borrow £19million from the central government to balance a £17m black hole in the budget.
Labour councillor Grace Williams, then leader of the council, said it was a long-term move that would prevent further borrowing in the future.
She had long warned that “difficult decisions” were needed in order for Waltham Forest to avoid financial doom.
The borrowing was criticised at the time by the local Tories, who said Labour had been flaunting the “taxpayer’s credit card”.
The Conservatives are no longer the main opposition at the council, however, as they won 14 seats to Labour’s 15.
The Enfield Greens’ spokesperson added that such pressures mean “we need to be strategic and more transparent about spending and development decisions,” which is why residents “will have a greater say in plans that affect their neighbourhoods”.
“We can only solve all the challenges faced by residents through openness, longer-term thinking and decisions rooted in community participation,” they said.
The cabinet members responsible for finance and housing have not yet been publicly announced.
The next council meeting – and the first presided over by a Green authority – is scheduled for Thursday, 21st May.
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