CAMDEN and Islington Councils have abandoned plans to share a chief executive and senior management team because it is not financially viable.

The councils announced in September that they were considering sharing a top management team to save money as both are facing up to �100million slashed from their budget over the next four years.

But after research into the proposals bosses have today announced they are not financially viable because it would cost a significant amount to implement over the first two years and savings would not be made until three years down the line.

A spokesman said: “While it is clear that both Camden and Islington face an unprecedented challenge to plug large budget deficits actual savings would not be delivered until years three and four or later.

“The proposal would have required additional costs in years one and two and very significant organisational upheaval for both boroughs.

“As both boroughs tackle the financial challenge we believe that our residents would prefer our focus to be on delivering immediate savings without the complexity involved in sharing senior management.

“This would allow officers from both boroughs to ensure that changes in national policy are implemented in such a way as to reduce any negative impact on the lives of our residents.”

The councils have said they are still committed to exploring how to share services and last night agreed to share their school meals service which will save around �1.2million.