For the first time in years, Croydon Council’s accounts have been formally signed off – a major milestone in repairing the financial collapse left behind by the former Labour administration.
When Labour ran the borough, Croydon became notorious as the only London council to go bankrupt. Debt spiralled, millions were wasted on failed ventures like Brick by Brick, and the authority failed year after year to get its accounts signed off. Residents were left without transparency, accountability, or trust in the council.
Since Jason Perry was elected as Conservative Mayor in 2022, the council has been working to stabilise its finances, rebuild proper systems, and restore order. With the legacy issues from Labour’s mismanagement now resolved, auditors have confirmed the accounts – proving that Croydon is once again meeting its legal duties and putting residents first.
“When I became Mayor in 2022, Croydon was broken. Labour left our Council bankrupt, with no proper accounts signed off for years.
Today that’s changed. For the first time in years, Croydon’s finances are signed off, debt has stabilised, and we are fulfilling our legal duty to taxpayers.
There is still work to do – but this shows we are fixing the mess, restoring credibility and putting Croydon back on track.”
– Jason Perry, Conservative Mayor of Croydon
“This is a huge step forward. Labour’s reckless mismanagement left Croydon bankrupt, with debts piled high and a long list of accounting mistakes needing correcting, we have now completed that work and all our accounts are up to date again.
Under Mayor Jason Perry we have put proper systems back in place, ensured real transparency, and delivered audited accounts for the first time in years.
Residents can be confident their money is being looked after by the Conservatives. Croydon must never go back to the bad old days under Labour.”
– Cllr Jason Cummings, Cabinet Member for Finance
