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Commenting on today’s local government settlement, Chartered Institute of Public Finance and Accountancy (CIPFA) Chief Executive, Rob Whiteman says:
“There will be winners and losers in this Local Authority Settlement. Top-tier local authorities are set to benefit as high-demand critical services, such as social care, receive welcome direct support. However, it is likely that District Councils will find a greater squeeze on their budgets as the new homes bonus is reduced by around £800m between now and 2019-20.
“We welcome the move to localised funding, which will give local people more power to set priorities for their communities, but there is still a long way to go.
“However, replacing central government funding with fully retained business rate revenues introduces real risk to council finances. It is something of a gamble for many vital public services - as the assumptions underpinning greater localisation are that the economy continues to grow and a much greater number of new homes are built, which recent experience shows is anything but certain.”
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