<-- Back to proposed bills
Local Government Finance Update
24 January 2024
Type
Written Ministerial Statement
Department
Department for Levelling Up, Housing and Communities
At a Glance
Issue Summary
The statement discusses additional measures for local authorities, including new funding and increased Core Spending Power.
Action Requested
The government is providing an extra £500 million for social care and increasing the Funding Guarantee to a minimum of 4%. They are also introducing productivity plans for local authorities and establishing an expert panel on financial sustainability. The final Local Government Finance Settlement will be published next month.
Key Facts
- An additional £600 million funding is being provided, including £500 million for social care.
- Core Spending Power will increase by up to £4.5 billion or 7.5% in cash terms from £60.2 billion to £64.7 billion next year.
- The Funding Guarantee increases to a minimum of 4%, up from the previously proposed 3%.
- A £15 million increase in the Rural Services Delivery Grant, making available a total of £110 million for 2024-25.
- Additional funding of £3 million will be provided outside the Settlement to support local authorities with Internal Drainage Board levies.
▸
Assessment & feedback
Summary accuracy