Local Government Finance

I realise that we are moving towards target according to formula funding, but is it right that my authority should lose another £5 million this year because it is below target? That comes on top of the millions that we have lost already. Wandsworth is to receive an additional £51.653 million next year, and Kensington and Chelsea £10.061 million. I put it to my hon. Friend that my constituents are some of the poorest in the country.