A lack of clarity over who will direct place-investment through the proposed replacement for EU structural funding could cloud our hopes of economic recovery, argues Joe Fyans.
The government must ensure £730m of unspent European Union funding is spent by the end of the year to prevent it being sent back to Brussels, according to the Local Government Association.
The government is asking for the planned business rates holiday to be made exempt from European Union rules restricting state aid, as financial pressures mount up due to the coronavirus pandemic.
Growth and local investment is at risk if the government does not provide details of replacement EU funds for communities, council leaders have warned.
A no-deal Brexit would be likely to push the UK into recession next year and mean 2% less growth, according to an umbrella group for developed countries.
A think-tank has warned most forms of Brexit will damage the UK economy - while the Office for National Statistics has predicted borrowing will increase this financial year.
As the date for the UK’s exit from the EU fast approaches, central government needs to give local authorities more long-term certainty, says CIPFA chief executive Rob Whiteman.
Local authorities need to be prepared for any form of exit from the EU and now is the time to “double down” on devolution efforts, a CIPFA panel discussion has heard.
Analysis from both the government and Bank of England have warned the UK economy could “suffer a severe economic shock” in the case of a no-deal Brexit.
A no-deal Brexit will entail “dire consequences” for the UK economy, which would rapidly start to contract, the International Monetary Fund chief has warned.
The Department for Business, Energy and Industrial Strategy’s has made “virtually no attempt” to re-order its priorities to implement Brexit, the public finance watchdog has warned today.
