A RECORD £540million is set to be ploughed into transforming schools, housing and leisure facilities, Islington Council has revealed.

A RECORD £540million is set to be ploughed into transforming schools, housing and leisure facilities, Islington Council has revealed.

The cash will pay for educational facilities, "flagship" leisure centres, improvements to roads and streets and building Islington's first new council housing for a generation.

Islington Council has also pledged to do this while keeping Council Tax below the London average.

Leader of Islington Council, Councillor James Kempton (Liberal Democrat), said: "I share residents' vision for a better Islington. And because we've managed our money carefully, we are now in a position to deliver major projects - and keep our promise to keep the Council Tax below the London average."

Islington Council raised the cash from selling more than 200 commercial properties last year.

The council has based the plans on the results of the borough-wide budget consultation, carried out last September. The top priority is crime prevention and a cash boost will go towards putting more police on the streets and estates.

The plans are to be discussed by the council. But the Labour opposition's deputy leader, Councillor Richard Greening, said: "This budget is a missed opportunity. The council should focus on better CCTV and funding a better range of activities for young people.