Finance Committee Backs 3.99% rise in Council Tax

Wandsworth council tax set to remain second lowest in country

Last night (26th February) members of the finance committee backed plans to increase the council’s share of the tax rate by 3.99 per cent from April. However, this will be offset by the Mayor of London’s plan to decrease his part, making the overall household bill slightly lower.

The average Band D charge in Wandsworth would be £679.91 - the second lowest tax rate in the country.

The proposals will go before the full meeting of the council next month for final approval. If voted through this would be only the second time Wandsworth Council has raised its share of the tax rate in ten years.

Under new Government rules half of the additional tax revenue raised would be ring-fenced for adult social care services

Compared to the London average, Wandsworth households would be paying around £56 a month less, a saving of roughly 50 per cent.

Guy Senior, council finance spokesman, said:
“Like all councils we have to manage with a reduced Government grant next year and a modest increase in our council tax income will help us to absorb the impact and protect front line services. Because of the prudent approach the council has taken to its finances over many years we are able to draw on our reserves to reduce the funding gap further and we will also benefit from a £13m New Homes Bonus payment in reward for our successful housing delivery programmes. This will make a significant difference.

“Our low council tax rate is the result of many years of consistent and long term financial planning and keeping bills as low as possible remains a priority. Our tax rate benefits everyone in Wandsworth but it’s most important to people getting by on low incomes. Most households will be charged around £56 a month less than the London average which we know can make a real difference.”

View the report online.

February 26, 2016