Enterprising Councils - Income Generation
Grant Thornton found that 61% of councils saw budget reductions between 2016- 2017.
The LGA estimates that local government funding currently faces an estimated funding gap of £5.8 billion by the end of 2021.
Between 2014-2016, council income generation has remained stable. However, London has raised approximately double the amount of income than the North West region.
English Local Government increased from £26 million in 2012 to £36 million in 2016, ten million in just four years!
4 ways for Councils to Generate Income:
- Public Funds
- Debt/ Liability
- Facilitate/ Regulate
- Equity Stake