Friday, 19 October 2012 06:54

Finance settlement now later still

Written by  Ruralcity Media
Finance settlement now later still

LOCAL authorities must now wait until late December to find out how much money they are allocated by the government.

THE government's Local Government Finance Settlement will be unveiled later than usual because of the Chancellor's Autumn Statement.

Local government minister Brandon Lewis said: "We expect the Local Government Finance settlement for 2013-14 to be announced in late December.

He added: This is a consequence of the timing of the autumn statement."

The written answer in response to a parliamentary question was published on 18 October.

The Chancellor's statement – which itself will be published later than usual on Wednesday 5 December – has pushed the settlement later into the month.

Autumn statements are more usually made in November, prompting suggestions that the Treasury is buying time to fill in gaps in the government's growth strategy.

The statement will focus on economic growth and government finances as projected by the Office of Budget Responsibility.

The Local Government Finance Settlement determines how much grant central government will give to each local authority in England over the next two years.

This year's settlement is the last under the present system prior to the establishment of a business rates localisation mechanism for the future determination of local government funding.

The Rural Services Network has campaigned – and will continue to do so – for the recognition of the additional cost of funding rural services in the settlement.

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