Croydon is committing to building schools and youth facilities, affordable homes and major regeneration projects over the next four years.
The council has set its council tax for 2016/17 – with an average increase of £25 a year on a band D property. Overall the rise – which will be presented to cabinet and council during February – will be 4.33 per cent; Croydon implementing the maximum 1.99 per cent on its council tax element, the Mayor of London proposing a 1.45 per cent increase in the GLA precept plus a 3 per cent adult social care precept.
Council leader Tony Newman said: “Despite 50 per cent cuts in central government funding over the past six years, Croydon has been able to maintain a balanced budget and protect front line services when some other councils are having to make drastic cuts to balance the books.
“This administration has put value for money at the heart of what we do, such as letting out part of our council offices, so that we can continue to provide services that matter most to our residents.”