Schools in Haringey are facing a financial crisis according to Liberal Democrat councillors following the release of figures showing that many schools in the Borough are running substantial deficits of up to £250,000 this year.

The concerns have been expressed after figures were made available showing the agreed budgets of 50 of the 80 schools in the borough. Seven schools have had budget deficits approved amounting to a total of £671,045. Even if the surplus money were shared amongst those running a deficit, the overall debt remains over £340,000, with 30 more schools still to include. Liberal Democrat councillors are concerned that the knock-on effect of this deficit will be cost-cutting measures, with fewer teachers and books.

Lib Dem education spokesperson, Barbara Fabian comments:

“The situation is very serious, both locally and nationally. Our fear is that standards will fall in the schools and teachers will be once again pushed to breaking point.

“Education is not something that we should gamble on. The Government must find the resources to ensure that schools become creative, inspiring and enlightening places to work and study.”

Cllr Ross Laird, leader of Haringey Liberal Democrats, adds:

“This year we have seen the Government having to bail out Haringey’s schools, but over the longer term we’re looking at ever increasing costs, higher debt levels and teacher shortages. Haringey’s schools can only go on like this for so long.”