"New data published this week show London's homelessness crisis continues to escalate, with boroughs now spending £5.5 million a day on homelessness in 2024-25 - up from £4.2 million a day in 2023-24. The bulk of that spending is the cost of providing temporary accommodation for homeless families - now almost £5m a day in the capital. Net current expenditure on homelessness in London has risen by 42% since last year, compared to a 16% increase across the rest of England."
"As part of the Fair Funding Review 2.0 reforms, the government is simplifying how it measures relative needs across the country. While London Councils has welcomed the proposed introduction of a new formula to reflect levels of spending on Temporary Accommodation, the cross-party group is concerned that using 2023-24 spending data would significantly undercount the scale of the pressures facing boroughs and other parts of the country."
"London boroughs are also calling for the government to update the Index of Multiple Deprivation (IMD) to reflect the cost of housing and increase the weighting given to factors such as homelessness and housing affordability, in light of the escalating crisis. Currently, homelessness is given equal weighting to 'road distance to a post office' in the IMD, suggesting these factors have a similar impact on people's life chances."
London boroughs are spending £5.5 million a day on homelessness in 2024-25, up from £4.2 million a day in 2023-24. Almost £5 million of the daily cost is for temporary accommodation for homeless families. Net current expenditure on homelessness in London rose 42% year-on-year, compared with a 16% rise across the rest of England. Boroughs warn that using 2023-24 spending data in Fair Funding Review 2.0 would undercount current pressures and call for the Index of Multiple Deprivation to be updated to reflect housing costs, homelessness and affordability. Councils also seek revisions to the proposed children's funding formula, including using SEND measures rather than parental opinion.
#london-homelessness #temporary-accommodation-costs #fair-funding-review-20 #index-of-multiple-deprivation-imd
Read at London Business News | Londonlovesbusiness.com
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