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£1.7BN FALL IN CAPITAL SINCE 1990

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Councils' capital spending has been cut by£1.7 billion since 1990, a Local Government Information Unit report reve...
Councils' capital spending has been cut by £1.7 billion since 1990, a Local Government Information Unit report reveals. The analysis of CIPFA and the DoE figures shows basic credit approvals in England and Wales have been cut from £3.26bn in 1990-91 to £2bn in 1993-94. The real terms cut is £1.4bn, it says.

Investment funded by councils' usable receipts over the same period has dropped from £2.14bn to £1.71bn. The LGIU predicts investment from receipts may be £1bn lower next year when the capital receipts holiday ends.

Among the worst cuts in credit approvals was £225 million lost in the north west between 1990-91 and 1993-94 and £144m lost in the west midlands. LGIU Chair Phyllis Starkey said it was economic madness to stop councils investing in capital projects.
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