Barnet Council could go bust in the next financial year because of Covid-19 councillors heard at last night’s Policy & Resources Committee (17 June).
A budget report to the Committee states that “without additional levels of funding, the council will move into significant risk of being unable to remain in balance should the period of disruption [from Covid19] sustain.”.
At the meeting Labour Group Leader, Cllr Barry Rawlings, pressed the Chief Finance Officer to specify when the Council would run out of money if things remain as they currently are with no additional funding, income or savings, and the reply was in 2021/22.
Leader of the Barnet Labour Group, Cllr Barry Rawlings said: “No-one thinks the Government is going to fully fund the total cost of Covid19, including the Barnet Tories. We don’t know how long the pandemic will last so things are looking bleak for the Council’s finances.
“We have a £26 million black hole in the budget, and no real plan for how that’s going to be plugged. Unless there’s a major change we are facing desperate days in the coming year.”
- A copy of the budget report can be found here: https://barnet.moderngov.co.uk/documents/s58986/Outturn%20201920%20Budget%20202021%20and%20Business%20Planning%202021-25.pdf
For more information contact:
Cllr Barry Rawlings: 07833 530 593