FINANCE

Leading the way on financial self-sufficiency

Sevenoaks DC’s approach to property investment ‘has not happened by accident,’ says its chief executive Dr Pav Ramewal. The council has a defined strategy, is clear about the investment criteria and understands its appetite for risk, he argues.

Ever-reducing Government support has meant many local authorities have had little choice but to reduce services or increase charges to help them live within their means. In Sevenoaks, our strategy has been a little different. It is one of financial self-sufficiency and being able to continue to deliver the services our residents need by replacing our lost grant with income from investments.

Each year since 2011, the council has set a rolling, balanced 10-year budget.

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