A few years ago the Chartered Institute of Public Finance
and Accountancy didn’t much like the direction in which Bexley Council’s
reserves were heading. They were in a worse place than any other London borough
and if they didn’t do something about it all the money would be gone by 2022.
(Which looked to be over-dramatic to this
non-accountant.)
Things were
not good in 2023 either (reserves down from £74 million to £67 million in a year) but the brakes must have been applied even harder since because Bexley is not broke - yet - but the
direction of travel is unchanged. General Fund reserves are down by another £6 million
in twelve months.
Click this image to see the bigger picture.
Probably the next government will lift the Council Tax cap and residents will be fleeced even more than they are now.