Cllr Stephen Greenhalgh, who has been leader since 2006, has overseen a council that is on track to reduce council tax five times out of six while cutting its historic debt burden in half.
A statement published by the Council said that standing down will enable Cllr Greenhalgh to focus on how to decentralise power from the town hall and Whitehall to the neighbourhood so that local public services are more accountable to local people.
He is helping to pioneer plans for a Neighbourhood Budget for the White City Opportunity Area. Nearly £70 million of taxpayers’ funds – or £17,000 per household – is spent in this area every year.
Despite this unemployment is twice the borough average, the area has high levels of overcrowding, relatively low educational attainment and relatively high levels of crime. H&F wants to pool central and local government's spending into a single budget pot, involve residents far more in how that money is spent and ensure that every penny is focused on improving the life chances of the people living there.
Cllr Greenhalgh said:
“I am keen work with Whitehall and the town hall to develop a new approach to public spending at a neighbourhood level while continuing to serve the residents of Town Ward where I both live and work," he said.
“I do not think the people of White City are getting value for money out of that £70 million, nor do I think are wider taxpayers. I want to focus that money on getting much better outcomes for people living there and ensuring that the neighbourhood is fully involved in how that money is spent.”
Recently H&F, Westminster City Council and the Royal Borough of Kensington and Chelsea announced plans to combine services and management costs to save £33.4 million-a-year across the three areas by 2014/15.
Following the announcement, Prime Minister, David Cameron, said:
"Stephen Greenhalgh has demonstrated that good management and tackling waste can keep council tax bills down whilst protecting services."
London Mayor Boris Johnson said:
"Stephen Greenhalgh has been one of the very finest borough leaders London has seen. He has delivered first class services for Hammersmith and Fulham while relentlessly driving down costs. We will miss him."
Cllr Greenhalgh intends to stand down in six months' time.
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north-east of Kiev, the Ukrainian capital. The Berson UV systems disinfect effluent prior to its discharge into the Desna River. 
