Lib Dem Ministers Act on Capitalisation
“I am delighted that at least Lib Dems in Government are listening to the pleas of local government. Today an increase in capitalisation is being announced which will increase by 50% the amount available to £300,000,000.” said Cllr Richard Kemp, Leader of the Liberal Democrats in Local Government.
“It has been agreed following intense discussions between Lib Dem council leaders and Andrew Stunell the Lib Dem Minister in DCLG and Danny Alexander, Chief Secretary to the Treasury. It is not as much as we would have liked but is a lot more than we had originally been told.
This announcement is good news for local authorities with the most difficult settlements, as the money is expected to be handed out based on a council’s level of reserves and overall financial position.
Capitalisation, often of a council’s own money, means no hand outs from Government but an intelligent way of using available resources to ensure the minimization of disruption to services and the maximization of efficiency savings.
We hope other Ministers will listen to our sensible requests in the way that Andrew and Danny have done”
Cllr Kemp can be contacted on 07885 626913