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Residents are set to see a freeze in council tax for the fourth year.

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Councillors are set to discuss the proposals and launch a public consultation on the budget at next week’s cabinet meeting.

Other proposals are set to include using the council’s pensions fund to invest in the borough, which could include the purchase of commercial or residential property for let.

From April this year, the council will see a reduction in funding to Havering of around £1.5million, but the council is hoping to meet the shortfall without the need for cuts or tax increases.

Cllr Roger Ramsey, cabinet member for value said: “Our budget is built on a long term approach to cutting our running costs, rather than cutting services.

“That means we can focus on the priorities of local people, who want clean, well maintained streets, care for those in need and services like libraries and parks that improve the quality of life in Havering.”

The proposals come the same time as an independent Peer Challenge is published, describing Havering’s approach to the financial challenges it faces as “strategic and calm.”

Cllr Michael White, leader of the council said: “I’m very pleased that the Peer Challenge report recognises how well we’ve managed funding cuts in Havering since 2010.

“It’s not been easy and there’s much still to do, but this independent group of assessors described Havering as a “modernised and forward-looking authority”.

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