Sadiq Khan confirms move from City Hall in bid to fill £500m budget black hole

The video discusses the financial challenges faced by the city due to the global pandemic, including reduced business rates and council tax, leading to a significant budget deficit. It explores potential solutions such as moving to city-owned buildings to save costs. The video also highlights investments in public services like police and fire services, and the expertise of the council in managing long-term projects. Finally, it emphasizes the importance of developing affordable housing to benefit the wider community rather than luxury developments for a privileged few.

What percentage decrease in business rates is the city expecting over the next few years?

• 5%

• 11%

• 15%

• 20%

What is the financial challenge the city is facing due to reduced council tax?

• A £700 million deficit

• A £500 million deficit

• A £200 million deficit

• A £100 million deficit

What is one of the options the city is considering to save money?

• Moving to a city-owned building

• Raising business rates

• Cutting public services

• Increasing council tax

What is the city's goal regarding housing construction?

• Developing commercial properties

• Constructing affordable council homes

• Renovating existing buildings

• Building luxury penthouses

What record did the city break in the last three years?

• Most luxury homes built

• Most affordable homes started

• Most commercial buildings constructed

• Most council tax collected