The current crisis has exposed a gaping hole in local authority finances, and 44 of England’s largest councils are poised for bankruptcy.
A collapse in income base from council tax, parking charges and leisure fees has rendered councils unable to deliver key services effectively, leaving councils wondering what this will mean for their 2020/2021 budgets, going forward.
Uncertainty also remains about the level of government compensation which will be given to local authorities to ease the financial strain and under what terms it will be given.
To ensure their resilience and survival, financial officers will need make tough decisions, to prioritise what the most critical aspects of public expenditure should be and increase income.
Director, The Chartered Institute of Public Finance & Accountancy
Associate Director, Institute of Fiscal Studies
Director, Local Government Performance & Finance, London Councils
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