£50m exceptional financial support agreed for Lambeth LBC

The Government has agreed in principle exceptional financial support of up to £50 million for the London Borough of Lambeth.

The council joins 19 other local authorities which have in principle agreed capitalization directions.

The additional financial support is for 2023-24 and 2024-25.

The council’s financial difficulties are related to the costs associated with a reparations scheme for historical child abuse cases.

A CIPFA report found that Lambeth LBC had “robust arrangements and processes to ensure sound financial and risk management and sustainability”.

However, it recommended the board “reinforce the need to deliver on its savings program and continue to hold directors and leadership members to account for delivery.”