Improvements to our website

We have made changes to our website to improve the way it looks and to give residents a better experience. You can find out more about this update here. 

A guide to your Council Tax

Southwark Council’s budget - Finance

About the council’s budget

Southwark Council’s revenue budget for 2023-24 represents the estimated cost of delivering our services. The amount we can spend each year is limited by the amount
of grant we receive from government and income received from other sources, such as council tax, fees and charges and any business rate growth that we can retain. Since
2010-11, like other councils, Southwark has experienced significant reductions in government funding. Despite the challenges, the council remains committed to
protecting services for the most vulnerable people, cutting waste and mitigating as much of the impact of cuts as possible.

The 2023-24 budget has been prepared in the context of high inflation, the cost of living crisis, continuing COVID-19 residual effects, and in addition the council has also had to
manage the increasingly high demands and pressures on front-line services, particularly adult social care, children’s services, homelessness services and welfare support. The council has to fund local government pay increases and higher inflation costs.

Due to changes in government funding our revenue budget is reliant upon the council raising funds through council tax and business rates with some revenue support grant
received from government. In order to present a balanced revenue budget for 2023-24 that continues to protect services for our most vulnerable residents, the council is raising council tax by a local increase of 2.99% and 2% for the adult social care precept, a total of 4.99%

Adult social care precept

It was agreed by the council to increase the adult social care precept in 2023-24 by 2% in line with government guidance. This will raise an additional £2.6 million in 2023-24.
The adult social care spending plans assume this level of additional funding will be available. A 2% increase for the adult social care precept for 2023-24 equates to £23.98 for a band D equivalent.

Retained business rates will fund 48.2% of the council’s budget for 2023-24. 12.1% will be from revenue support grant and 39.7% from the council tax that residents pay.

Where do the council’s resources come from?

Income type Share of resources
Retained business rates 48.2%
Council Tax 39.7%
Revenue support grant 12.1%

How is Southwark Council’s part of the bill worked out?

To work out the tax for each band, we divide Southwark’s total council tax requirement by a number known as the council tax base. This gives the council tax for band D, with
the other bands calculated as a proportion of this. For 2023-24, band D is £1,258.78 which is £137,426,048 divided by 109,174 (council tax base).

What other services does my bill pay for?

Part of your council tax meets the costs of the Greater London Authority (GLA). This is known as the GLA precept and it covers the cost of police, fire and transport for the
whole of London. The Mayor of London and the London Assembly set the GLA precept and Southwark Council has no control over this contribution. This year the GLA precept has been increased by 9.74% for band D.

Details of the GLA’s budget

Southwark Council’s income and expenditure

The revenue budget is mainly funded by revenue support grant, council tax and business rates. Schools are funded through the dedicated schools grant and other government grants.

This table explains our budget:

Net Budget
Service 2023-24
Net Budget
83.8 Children’s service 329.0 -242.7 86.3
80.1 Adult social care 148.3 -74.9 73.4
19.8 Highways 24.8 -5.2 19.6
-5.9 Planning & Growth 15.1 -20.9 -5.8
18.8 Parks & Leisure 22.8 -6.0 16.8
7.4 Libraries 8.3 -0.4 7.9
-5.2 Regulatory Services 26.0 -29.8 -3.8
35.2 Refuse collection and disposal 70.5 -29.4 41.1
14.1 Customer and Exchequer 155.4 -140.3 15.1
20.7 Housing (General Fund) 60.2 -35.7 24.5
24.3 Other services 238.281 -197.5 40.8
293.2 Total spending on services 1,098.6 -782.8 315.8

Funded by:

-126.60  Retained Business Rates and Top Up     -135.96
-37.80  Revenue Support Grant     -42.20
-0.20  Council Tax surplus/deficit     -0.30
128.60  Southwark's Council Tax Requirement     137.40
107,267.00  Divided by Council Tax base     109,174.00
1,198.95  Which equals Southwark's Band D council tax     1,258.78
42.40  GLA Requirement     47.40
107,267.00  Divided by Council Tax base     109,174.00
395.59  Which equals GLA Band D council tax     434.14
1,594.54  Total Band D Council Tax     1692.92
Children's Services 27.3
Adult Social Care 23.2
Environment and Leisure 24.0
Other 25.5

Other key information

At 31 March 2022, the council’s uncommitted reserves were £18.9 million, investments £107.1 million and borrowing £901.7 million. Southwark Council employed approximately 4,147 staff (FTE) at 31 March 2022.

How is Southwark Council Tax calculated?

In 2023-24 a band D charge will be £1,258.78 which is a £59.83 increase from the band D Council Tax charge in 2022-23 as shown in the table below.

2022-23 band D charge 1,198.95
Add 4.99% increase 59.83
2023-24 band D charge 1,258.78

Page last updated: 03 May 2023


Privacy settings