Member Article

Hackney aims to make markets ‘self-funding’ by 2017

Hackney Council has launched a consultation into the fees and charges for trading at its markets and shop fronts with the aim of making them ‘self-funding’ by 2017.

The borough’s markets are currently paid for through general council funding of more than £180,000 per year. A significant part of this is the cost of clearing up waste generated by trading activity at market sites, the council says.

Plans to introduce revised fees and charges to take effect from April 2016 have been sent out in a consultation document to all market traders and shop front licence holders.

The proposed changes impact permanent and temporary traders in Ridley Road Market, Hoxton Street Market and at miscellaneous sites, such as Calvert Avenue, Clifton Street, Crown Place, Haggerston Station and Leonard Circus. New administrative and application costs are also recommended.

More than £550,000 is spent on cleaning, removing and disposing of market waste every year in Hackney, with about £500,000 of this is attributed to Ridley Road Market alone.

Cllr Feryal Demirci, Cabinet Member for Neighbourhoods and Sustainability commented: “We value our markets – the heritage, variety and the service they provide to our local communities and we support them as much as possible. However, we are currently charging some of the markets far less in fees and charges than the cost of maintaining, managing and cleaning them.

“It is important for our markets to be self-funding. The Council has already managed around £100 million in funding cuts from government and is now facing a further £60 million in cuts, and we cannot afford to continue subsidising our market traders, including shop front trading. We believe it is only fair to residents that operational costs of Hackney’s markets be covered by fees and charges so taxpayers’ money can be directed elsewhere. Any increase for traders will reflect what it currently costs the council to provide the markets service.

“There are ways Hackney’s market traders can help to keep costs down, for example by disposing of their waste correctly This includes separating food waste from general waste and recycling which has a big impact on costs with waste accounting for 57% of all markets expenditure in 2014/15.

“We want to hear views on our proposals and encourage all market traders and shop front holders to have their say, as well as anyone else who wants to give their opinion. We will consider all feedback before we make our final decision.”

The consultation closes on Monday 15 February 2016

This was posted in Bdaily's Members' News section by Ellen Forster .