Financial security and stability for Croydon residents as new four year efficiency plan announced

 

A new four year efficiency plan that promises more financial security and stability for Croydon residents is set to be presented at cabinet this evening.

The four year plan- which is set to be approved at Cabinet will give Croydon greater certainty around its finances, enabling the council to develop a robust plan on how it will continue to deliver value for money services most needed by residents.

The council has been able to maintain a strong hold of its finances in the face of continued reductions to its funding. The plan sets out the strategy for delivering a further £45million of savings by 2020 whilst at the same time continuing to deliver excellent frontline services and invest in the borough, to make sure Croydon continues to thrive and grow.

Improving the lives of local communities, and creating new affordable homes and jobs for local people are key priorities for the council. The borough is embarking on a £5bn regeneration programme, delivering thousands of new, affordable homes and jobs, creating a growth zone to invest in key infrastructure projects and boosting its culture and leisure through projects such as the £30m refurbishment of Fairfield Halls and building a new £18m leisure centre in New Addington

Councillor Tony Newman, leader of the council

“The council has a firm hold on Croydon’s finances and this has enabled it to successfully invest in the borough, whilst making savings and protecting key front lines services, which is no mean feat. This is good news for Croydon and its residents who will benefit from greater security and more financial certainty. The new efficiency plan will empower the council and allow it to look ahead to the continued delivery of the key, frontline, value for money services that residents need and most importantly, deserve.”

Cabinet member for finance and treasury, Councillor Simon Hall said: “The four year efficiency plan will strengthen Croydon’s finances and efficiency and will in turn provide clarity and improve the quality of life for local people. We must find savings and make tough decision in the coming years as our core funding continues to shrink, but we will keep lobbying the government for fairer funding for Croydon. Having clear spending and saving proposals is crucial to the council delivering value for money frontline services and achieving the ambitious economic growth planned for the borough.”

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