An irresponsible approach to finances by the previous Conservative administration has left Kingston Council battling against bankruptcy.
At a meeting of the Finance & Contracts Committee on Thursday, Portfolio Holder for Finance, Councillor Alison Holt, outlined the financial mess the previous Tory administration has left Kingston Council in.
In their final budget the Tories voted for hugely ambitious cuts without explaining how they could be achieved. It’s now clear these savings were never realistic.
Furthermore, Kingston Liberal Democrats inherited an overspend of £11 million from the Conservatives however working with council officers, this has been reduced to £4 million — work continues to bring this down further.
Councillor Liz Green, Leader of Kingston Council, said “If we had continued with the unachievable savings and unspecified cuts proposed by the Tories in their budget earlier this year, bankruptcy by 2021 was a real possibility.”
“There will be tough decisions over the coming months and as we prepare the 2019–20 budget, but we are determined to put Kingston Council back on a financial even keel, whilst protecting our most vulnerable residents.”
To read the report on the revenue and capital monitoring (forecast outturn) positions for 2018/19, see the Council's website.