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February 26, 2012 3:54 PM

This year has again seen cuts to the council budget as a result of the government's important deficit reduction programme.

In administration in 2009/10 the Lib Dems laid the foundations for the difficult decisions that have been made over the last two years to balance the Town Hall's books.

The success of the cuts to back office functions alongside extra money from the government for the council tax freeze has created unexpected flexibility in the budget to soften the impact on local residents and invest in jobs and growth.

This year the Lib Dems have identified over £6 million in additional savings and reserves that could be used to help residents now, invest in local jobs and ease the cuts on Labour's failing Children's Services.

Lib Dem Leader Cllr Bob Sullivan said:

"As a Liberal Democrat I am appalled to see that Labour are still subsidising their trade union paymasters, they are still spending half a million pounds on a wasteful council newspaper and they are still spending a million pounds a year on press officers and PR.

"And not only that but they're hoarding money for a pre-election spending spree in 2014, when they could be helping residents now.

"Waltham Forest Labour have spent millions of pounds of tax payers money on consultants but they're not investing enough in local jobs, they've spent £3 million earmarked for the Olympics on fireworks and parties whilst increasing fees for local sports and youth services, and next year they're spending £3 million in their 'priorities fund' but barely 4% of it is to tackle unemployment.

"Lib Dems have identified over £6 million in extra savings and hidden reserves that could be spent now on helping local residents: Investing up to £4 million in jobs and growth, softening the blow of cuts to our struggling Children's Services, and investing in local services by reversing the cut to Chingford South and Harrow Green libraries."

"Waltham Forest Labour are out of touch, out of steam and out of ideas. They should get their priorities right for residents, stop wasting money on vanity projects and PR and be ambitious for Waltham Forest by accepting the Lib Dem's budget amendment next week."