FINANCE

Looking ahead with trepidation

Professor Martin Reeves digests the contents of the provisional local government finance settlement and highlights the key reasons why it will fail to meet the challenges that lie ahead.

Now that we have had time to digest the provisional local government finance settlement – as well as our Christmas dinners – it is becoming increasingly clear that while the extra funding announced is welcome, it – unlike most Christmas dinners – barely touches the sides and falls far short of what is required.

In the immediate aftermath of the Spending Review – at which an additional £4.8bn was made available over the next three years – I said the Government had merely fitted the sector with stabilisers.

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