Bromley Labour is proposing to invest just 2% of the council’s reserves to fund a Borough-wide COVID Recovery Plan. Labour’s recovery plan is headed by a council tax cut for approximately 10,000 Bromley residents hardest hit by the economic fall out of the pandemic.

Labour is also proposing support for Bromley’s small business and high streets as well as for young people and those suffering from worsening mental health.

“Bromley is facing its greatest ‘rainy day’ in living memory, so now is the time to show leadership and invest in a borough wide COVID Recovery Plan,” said Angela Wilkins, Leader of the Labour Group on Bromley Council.

“By investing less than 2% of total borough reserves we can make a real difference to those who have suffered from months of lockdowns, business inactivity, job losses and isolation.

“Labour has a coherent and affordable plan for recovery, and we offer the political leadership which is currently missing. COVID has exploited many inequalities in society as well as creating new ones. These have to be addressed.” added Cllr Wilkins.

Labour’s COVID Recovery Plan, unveiled as part of its response to the annual budget, includes:

• A one-year tax break for working age claimants in Bands A-D (meaning they will pay no
  council tax this year
• A new commission to identify and address major inequalities facing minority groups
• £1 million of targeted support for Bromley’s High Streets and small local businesses
• A new “Young Futures” service to replace Bromley’s existing Youth Services, plus support for young people including apprenticeships and free leisure passes for under 18s receiving free school meals
• Faster house building and support for renters when the national government’s eviction ban ends
• Increased investment in mental well-being and preventative public health measures
• Investment in parks and open spaces, increased air monitoring and initiatives to return residential streets to residents by clamping down on anti-social drivers
• Setting up a multi-agency team to coordinate a comprehensive COVID recovery strategy for the borough

Notes:

1. The London Borough of Bromley has approximately £480 million of total reserves,
   comprising £180m of liquid reserves and approximately £300m invested in portfolios
   including commercial properties and money markets.
2. Labour proposes to spend £10m of these reserves across its full Covid Recovery Plan for
   Bromley.
3. Labour’s lead policy is to cut council tax to zero for one year for claimants in band A-D
   properties.
4. Plans to deliver social housing and temporary accommodation have been severely delayed,
   including plans for modular units on York Rise (Orpington) which were agreed more than 5
   years ago