This is how much Croydon council tax is set to go up by

Council tax will increase by  1.99 per cent and there will be a three per cent rise in the adult social care precept.

Along with the proposed Greater London Authority contribution, there will be an overall increase of 5.83 per cent meaning those in Band D properties will se a £2 weekly increase.

Croydon Council is facing a financial crisis and will be unable to balance its budget without a loan from the Government.

Without this, it faces a black hole in the budget of more than £60 million.

The budget for next year is dependent on receiving this loan, known as a capitlisation direction.

It will also see rent for council housing increased. A one-bedroom property currently costs £459.51 a month, this will go up to £466.40 a month next year.

The budget is set to go to cabinet on March 1 and full council on March 8.

Council leader Hamida Ali said: “Setting and vitally, delivering this budget is the council’s absolute priority and will be a whole organisation endeavour.

“We have recognised the serious nature of our financial situation and our total focus has been, is and will continue to be on putting things right. This budget is an essential part of doing that.

“Over the past few months we have had to make some hard choices and we know we will have more to make. There is no overnight fix to Croydon’s challenges, this will be a three-year recovery journey to achieve a sustainable budget position by 2024.

“I am determined that we will continue doing all we can to get the council back on a sustainable financial footing while making sure that we continue to deliver quality core services for our residents.”