Barnet Council is approved a £55.7m bailout from the government to help balance its budget

Barnet Council has received a significant boost with a £55.7m bailout from the government to help balance its budget. This financial injection is expected to provide stability to the council’s finances, which have been under pressure due to various factors.

The council has been facing significant financial challenges, including a budget gap of £39m in December, driven by high inflation and increasing demand for statutory services ¹. Despite these challenges, the council has been working hard to find efficiency savings and identify areas for investment.

The bailout will enable the council to invest in essential services, including adult social care, children’s services, and road maintenance. In fact, the council has already approved a budget that includes £22m of additional funding for adult social care, £7m for children’s services, and £2m for homeless families ¹.

Barnet Council’s Leader, Cllr Barry Rawlings, expressed his pleasure at the approval of the budget, stating that the council has worked incredibly hard to find the savings needed to remain financially stable ¹. He also highlighted that the council continues to have the lowest council tax compared to all neighboring boroughs.

The government’s support is a welcome relief for Barnet Council, and the bailout will undoubtedly help to alleviate some of the financial pressures the council has been facing. As the council continues to work towards achieving a balanced budget, this injection of funds will provide a much-needed boost to its finances.