Both of SE1's local authorities will see an increase in their government grant in 2003-4.
Southwark Council , with an 8.1 per cent boost, has the join biggest rise in London.
Lambeth will receive a 4.3 per cent rise, bringing their grant to over £285 million.
Lambeth Council's deputy leader Cllr John Whelan described the rise as "not nearly enough."
He added that the borough should be rewarded for its contribution to tourism made by the London Eye and Waterloo station.
Lambeth comes below half-way in terms of London increases – the average rise per borough next year will be 5.3 per cent.