Tory councils ‘bitterly disappointed’ by financial settlement

Councils have warned that many remain at risk of effective bankruptcy despite the Government making £64 billion in funding available next year.

The local government finance settlement guarantees every council a minimum annual 3% uplift in their core spending power, which is the amount they have to spend from a combination of Government grants, council tax and business rates.

The increase in spending power, which was £59.7 billion in 2023/24, confirms figures set out in the local government finance settlement policy statement earlier