Council bosses have spent almost £40,000 on banners advertising the new 20mph speed limit on Islington’s streets – even though there are already signs on the roads themselves.

The council has forked out £339 for each of the 113 banners – a total spend of £38,307.

The banners advertise the new speed limit on council-controlled main roads, including Hornsey Road, Caledonian Road and Blackstock Road.

The opposition Liberal Democrats claim this is a waste of money, given that government cuts have resulted in the council having to save £100million between April 2011 and March 2015.

They add that there are already 20mph signs painted on the road surfaces themselves – which, at £70 a time, have cost the council an additional £12,740.

Cllr Terry Stacy, leader of Islington’s Lib Dem opposition, said: “Islington Liberal Democrats support the 20mph speed limit as a key way of reducing accidents, reducing pollution and making our streets safer.

“But these new £30,000 banners are just another example of the council wasting money when it claims it is hard up.

“There has been no need for banners up to now so what’s changed? This is just another glossy propaganda exercise. It seems money is no object when the council is promoting itself.”

So far, cutbacks have included no longer paying for Christmas lights in order to save £45,000 a year.

Islington Council insisted that the banners are essential if drivers are to be effectively made aware of the new speed limit.

Cllr James Murray, Islington Council’s executive member for housing and development, said: “We want to make Islington’s roads safer for all. The lamppost signs are a strong and clear way to make sure drivers know about the new limit, and will help us shift the culture in Islington toward lower speeds.”