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hugo7
The council budget
https://www.islington.gov.uk/about-the-council/funding-and-spending/budget
It looks like it's mainly from business rates and council tax.
https://www.islington.gov.uk/about-the-council/funding-and-spending/how-we-are-funded
When did you live in hackney? The cuts have been going on so long that you're probably noticing the effect of those.