@LGAcomms works hard with others to change how #FutureofASC is talked about: its value to us all; how, at its best, it supports people from all walks of life to live a great life. Delighted to have worked with so many wonderful colleagues on this…
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@BirminghamKav@JackTShaw Formally referendum principles can only be set on an annual basis. But the Government has previously indicated its intention for a number of years. Still, this means any statement about future principles is subject to change until the year in question.
@JackTShaw@StephenJCSheen As for borrowing as a way to deal with the day-to-day shortfall, it is not impossible for an authority to be in a situation where it is a non-starter because the interest cost/MRP increase itself might not be affordable without an injection of funds one way or another.
@JackTShaw@StephenJCSheen Yes, sale of assets wouldn't necessarily push borrowing figures up.
Offtopic, but it was ironic that the Gvt pushed the use of reserves in early 2010s, when the goal was to bear down on the public deficit/debt. Reserve use actually is contributes to the deficit for the year.
@JackTShaw@StephenJCSheen Hi Jack, so the way I understand capitalisation is the council can borrow from PWLB to plug the debt/shortfall. As PWLB monies are ultimately borrowed by HMT and passed on, if the loan is big enough, it will not just be a rounding number on public debt totals
Provisional 2024/25 local government finance settlement klaxon - a written ministerial statement titled 'local government finance update' is officially scheduled for Monday 18 December.
📣 Our Consumer Observatory Call 2023 is now open! 📣
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This morning, the second event in our ‘Re-thinking local government finance’ webinar series took place.
The webinar, chaired by @RichardWatts01 explored the impact of COVID-19 on local government #finance.
ICYMI, we have produced a short roundup ⬇️
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