Clean bill of heath for council coffers

1.13.00pm BST (GMT +0100) Wed 27th May 2009

Another sound financial year for Islington Council under the Lib Dems

The finances of Islington's Liberal Democrat council have been given a clean bill of health by government inspectors.

In its 'Annual Audit and Inspection Letter' for 2007/2008, the Audit Commission finds:

• the council is improving strongly and the pace of improvement has increased considerably in the past year.

• the pace of improvement is higher than the national average with over two thirds of the performance indicators improving last year.

• the council has a high proportion of strong performing services.

• the council provides good value for money and

• its good financial management continues to produce significant efficiency savings and states the Council is in a good position to maintain these improvements in the future.

Councillor John Gilbert, Liberal Democrat Executive Member for Finance, said:

"This is yet more independent confirmation that the Liberal Democrats run a tight financial ship in Islington.

"Gone are the bad old days under Labour when the council nearly went bankrupt and its finances were a running joke nationally. Sadly, with the sky-high council tax under Labour local residents didn't see the funny side.

"Good management of the Council's finances can seem boring. But the reality is that unless the Council's financial management is strong it is local residents who suffer from rocketing council tax and service cuts. Liberal Democrats are determined to stop this ever happening."