Chancellor Rishi Sunak has announced a grant funding package worth up to £4.6bn to be allocated by councils, to help keep businesses in Britain afloat following the third national lockdown.
Core funding for councils in England is set to be 3% lower in real terms per head next year than in 2015-2016, according to the Institute for Fiscal Studies.
The recent restrictions imposed on borrowing from the Public Works Loan Board will make budget management in the medium term more challenging, ratings agency Moody’s has said.
Local government secretary Robert Jenrick is to appoint an expert panel to help address “appalling” financial management issues at Nottingham City Council, following a government rapid review.
The government is to reduce the New Homes Bonus to free up funding for local authority grants, it announced as part of the provisional local government finance settlement.
The exit payment cap for Local Government Pension Schemes in England can be relaxed for some employees on “compassionate grounds”, the government has said.
London Borough of Croydon has requested permission from the government to use borrowing earmarked for capital projects on filling its revenue budget gap instead.
At the end of a traumatic year, PF asks local government figures whether government has done enough to shield the sector from the financial impact of Covid-19.
Spelthorne Borough Council is budgeting for an increase in income from its commercial property portfolio during the current financial year, enabling it to underspend its budget by £1.5m.
Leeds City Council has withdrawn its application for permission to use capital resources on day-to-day services following a funding boost from government.
As many as one in 20 local authorities in England risk financial failure as a result of a disruptive European Union Exit, according to a leaked government report.
A team sent in by ministers has concluded that Nottingham City Council cannot set a balanced budget for next year without government support, according to a leaked report.
Liverpool City Council mayor Joe Anderson is reported to be among five people arrested in connection with offences of bribery and witness intimidation.
Local authorities’ spending on buying property has fallen more than half following the outbreak of Covid-19, according to statistics from the Ministry of Housing, Communities and Local Government.
The London Borough of Croydon has issued a second section 114 notice after it was unable to make sufficient cuts to balance a forecast £66m overspend in its budget this year.
The UK Municipal Bonds Agency has withdrawn a planned bond issuance with Warrington Borough Council after chancellor Rishi Sunak changed the terms of borrowing from the Public Works Loan Board.
The argument for shifting resources away from housing benefit subsidies to social housing provision is growing stronger, says councillor Graham Chapman.
