Fair Funding 2.0

Lord Bailey of Paddington AM moved, and Thomas Turrell AM seconded the following motion:

"The Assembly notes with concern that the Government is planning to make severe funding cuts to London under its “Fair Funding 2.0” proposals, with some London boroughs losing up to 30% of their funding.

This comes at a time when London boroughs are facing a cumulative £4.7bn shortfall in their budgets over the next four years, more than double the previous forecast last year.

The Assembly is particularly concerned that the Government’s proposals could cut funding for London’s children’s services by £1.5bn, having drastically underestimated the level of need.

The Assembly also shares the concerns raised by London Councils and others, that the proposed new funding formula does not properly account for deprivation resulting from London’s high housing costs.

The Assembly calls on the Mayor to urgently lobby the Government to reconsider its Fair Funding Review proposals, reverse its planned funding cuts to London boroughs, and ensure that London receives its fair share of funding to meet Londoners’ needs. In particular, the Mayor should join us in calling for the Government to correct the children’s services formula or delay its implementation until it is properly reviewed."

Following debate, and upon being put to a vote, this motion was agreed by 11 votes for and 0 votes against.