By Sophie Huskisson Local councils face having to cut even more services as figures show they have lost a quarter of their funding in the past eight years. Data from the House of Commons library reveals there will be a £5.8billion shortfall in the coming financial year when prices are adjusted for inflation. Every single council bar one, the Greater London Authority, is expected to experience a real-terms cut in funding. Some 218 authorities, more than two-thirds, will experience a reduction of more than 30%. Hampshire Council saw the largest real-terms percentage cut in the latest funding set…