Council tax will increase by 1.9 per cent this Spring.
While other council's across the country are raising tax by an average of 3.5 per cent, council leader Clyde Loakes has announced an increase in line with other London boroughs.
Cllr Loakes has promised to keep council tax rises at, or below, 2.5 per cent.
He insists services will not be affected because the council is more efficient than it used to be.
Cllr Loakes plans to ease residents' financial woes by offering flexible payment plans.
Businesses will also be given the opltion to pay rates within ten or 12 months.
The council will give the Citizens Advice Bureau (CAB) £87,000 over the next two years to help those with debt problems get back on their feet.
Cllr Loakes said: "The whole world is talking about the global credit crunch so we at the council want to help those who are likely to suffer the most.
"We can do this because we have made efficiency savings over the last few years and are a four star rated council under the CPA assement."
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