Summary

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.  

Hear from IFS, CIPFA & London Councils as we explore:  

• How Local Authorities can avoid section 114 territory and move to preventive based finance strategy with a focus on investment;
• How Local Authorities can use foundational digital tools and capabilities to alleviate budgetary pressure and fulfill core responsibilities;
• The governance needed to support disaster recovery and build financial resilience;
• Contingency plans for local authorities in the event of a second wave of COVID-19.