Even with efficiency savings, councils will not close the funding gap, according to new report.
The funding gap for providing adult social care in London could be as much as £907m within five years, according to a new report published on Wednesday.
The research, carried out by thinktank and lobbying organisation London Councils, and supported by Ernst & Young, found a growing demand for services means even if local authorities in the captial are successful in making savings, this would not be sufficient.
The report, A Case for Sustainable Funding for Adult Social Care, estimates that London councils have the potential to make combined efficiency savings of between £240m and £735m but that leaves a funding gap.
Sarah Sturrock, strategic lead for health and adult services at London Councils, called the potential funding gap "large and scary" and stressed that local authorities could not close it on their own. "Even with all the things that local government might do, there's still going to be a large funding gap within the next five years," she said.
The only way the gap can be bridged, the report concludes, is if the government increases borough funding allocations or reforms how adult social care is funded.
