- Fareham Borough Council will receive £1 million in extra funding next year as part of the Conservative Government’s £64.7 billion Local Government Finance Settlement.
- The Conservative Government is sticking to the plan, continuing to drive down inflation and ensuring local authorities in England have the long-term funding they need through an increase in their Core Spending Power of up to £4.5 billion and additional measures worth £600 million this year. The settlement includes £1.5 billion of additional funding for adult social care and additional support for rural authorities.
- This increase in funding for councils will enable councils to provide vital services for residents while helping them to manage their finances for the long-term, securing a brighter future for taxpayers.
Suella has welcomed the announcement that Fareham Borough Council will see its budget boosted by 6.2 per cent next year, as the Conservative Government sticks to plan by more than halving inflation from 11.1 per cent to 4 per cent and giving local authorities the resources they need to support their communities in the long term and deliver a brighter future for the whole country.
The Local Government Finance Settlement sets out how much councils have to spend on vital local services each year, including social care which will see a £1.5 billion increase in funding next year as a result of the announcement.
Local authorities in England, including Fareham Borough Council, will receive a share of the £64.7 billion Local Government Finance Settlement next year – up £4.5 billion on this last year.
This additional funding also includes a £15 million increase to the Rural Services Grant worth £110 million of spending to spend on hard-to-reach rural communities.
Residents will also remain protected from excessive council tax increases thanks to Conservative reforms to council tax, ensuring councils cannot impose sudden and unexpected rises in council tax on local people without a referendum.
This additional funding comes on top of the £4.8 billion Levelling Up Fund and £2.6 billion UK Shared Prosperity Fund, which are improving local and civic infrastructure and supporting local communities as the Conservative Government sticks to the plan to deliver a brighter future for all.
Commenting, Suella said:
“Local authorities play a vital role in our communities, providing crucial local services that people rely on, but we know the effect of Covid and the war in Ukraine have increased cost pressures.
“It is great news that Fareham Borough Council will have an additional £1 million funding this year. These additional funds will help our local leaders take long-term decisions to deliver a brighter future for their areas.
“This builds on the significant funding boost the council received last year, showing the Conservative Government’s plan to ensure local authorities have the resources they need is working. Meanwhile, Labour have no plan and would just take us back to square one with their £28 billion unfunded spending spree.”
Commenting, the Secretary of State for Levelling Up, Housing and Communities, Michael Gove, said:
“Today, I set out the final Local Government Finance Settlement for 2024-25. This makes available up to £64.7 billion for local authorities in England, an increase in Core Spending Power of up to £4.5 billion, or 7.5 per cent in cash terms, on 2023-24.
“This settlement, and the changes we have made to address concerns raised through the consultation, will provide local authorities with the tools to support their local communities, continue to reform their services for the long-term, and to help communities prepare for the future.”