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Finance - 3 December 2009

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Finance briefing - the top local government news and events in one place.

NOTE: Click on the headlines for more on the stories.

TOP FOUR BRIEFINGS

2010-11 finances revealed

English councils are set to unveil the lowest council tax rises for more than a decade, at an average of 1.6%, an LGC survey revealed. Meanwhile, local government minister Barbara Follett has confirmed English councils will get a 4% funding increase for 2010-11 as had been previously agreed. (LGCplus report)

Public service funding review

The government is expected to unveil a fundamental reappraisal of the way money is spent on public services in the run-up to the pre-Budget report. No 10 is understood to have begun this work as part of the ‘smarter government’ programme that will report before the PBR. (LGCplus report)

Tories plan emergency budget

David Cameron announced that a Conservative government would publish an emergency growth budget within 50 days, if successful at the next election. The Tory leader’s announcement follows publication of the latest public borrowing figures showing the government borrowed £11.4bn in October, taking the total to £87bn for the year so far. (Reuters report)

ADZ projects to be shelved

Plans for accelerated development zones - US-style mechanisms for pump-priming regeneration projects - are to be “kept on ice” in the upcoming pre-Budget report. Experts have cast doubt on hopes that the PBR would pave the way for pilot ADZs. (LGCplus report)

 

FINANCE ROUND-UP

Research

Iceland recovery faster than expected (LGCplus report)

Councils’ pension pots shrink 19% (LGCplus report)

Councils face ‘financial time bomb’ (LGCplus report)

Guidance

New scales of audit and inspection fees (LGCplus report)

DCLG and CIPFA prepare treasury guidelines (LGCplus report)

Practice

Northgate discount scheme saves £7m (LGCplus report)

Events

The Fundamentals of Risk Management, LGC conferences, 9 December, London.

The More for Less Challenge: Preparing for the Next Spending Review, New Local Government Network in partnership with LGC, 27 January, London.

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