Homelessness represents the "single biggest risk" to council finances and may cause effective bankruptcy, according to the organisation that represents London boroughs.
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00:00London councils have called the homelessness crisis the single biggest risk to local authority finances in a warning that 2025's £330 million budget overspend could leave some councils facing bankruptcy.
00:16The Cross Group party said London's boroughs spent nearly £900 million tackling homelessness this year, that's 60% more than originally allocated to spend on homelessness in the wake of soaring numbers of households living in temporary accommodation across the capital.
00:34The crisis is leading to councils collectively spending £4 million a day on temporary accommodation.
00:40The gap between the subsidies they receive from central government and the cost of accommodation is estimated to have risen from £96 million to £140 million in a couple of years.
00:52Councillor Grace Williams, London council's executive member for housing and regeneration, said the worsening of homelessness and the emergency is devastating to the lives of many Londoners and represents the single biggest risk to borough's finances.
01:07A record high 126,000 households in England are being put up by councils after falling into homelessness with more than 160,000 children growing up homeless.
01:19I don't know if I can say I've seen an increase but I will be honest there is quite a lot of homelessness in this area.
01:25I have noticed homelessness but not an awful lot. I think the states, San Francisco and some cities, New York, have much more homeless that are obvious than I have seen in London.
01:39Stay here on London TV for more news from across the capital.