Lambeth Council looks set to freeze council tax for another two years.
The cabinet voted for the move last night and it will now go before full council in February next year for final approval.
Council tax in the borough has already been frozen for four years and this move would make it one of the first councils in the country to commit to a further two year freeze.
Councillor Paul McGlone, cabinet member for finance and resources, said: "The rising cost of living and the high levels of unemployment in London have meant many local people are finding they have less to spend or save.
"A two year council tax freeze would help keep the cost of living down for thousands of people in Lambeth.
"It would be a historic decision which would keep council tax at the same level for six consecutive years and would send the clearest possible signal that we are on the side of our residents in these tough times."