1-3 of 3 results for subject:Inflation
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Will the Chancellor confirm how the living standards of UK households have been forecast to change between this year and next by the Office for Budget Responsibility? Does he think it is acceptable that real household average incomes are set to fall on his watch?
Will the Chancellor confirm how the living standards of UK households have been forecast to change between this year and next by the Office for Budget Responsibility? Does he think it is acceptable that real household average incomes are set to fall on his watch?
To ask the Secretary of State for Levelling Up, Housing and Communities, what assessment his Department has made of the potential merits of increasing funding to local authorities to cover the costs of (a) inflation and (b) increased energy costs in advance of the release of the Local Government Finance...
To ask the Secretary of State for Levelling Up, Housing and Communities, what assessment his Department has made of the potential merits of increasing funding to local authorities to cover the costs of (a) inflation and (b) increased energy costs in advance of the release of the Local Government Finance...
The 2021 Spending Review settlement took into account a wide range of cost pressures. We announced around £1.6 billion additional grant for local government in 2022/23, including funding for Supporting Families and Cyber Resilience. The Local Government Finance Settlement made available £54.1 billion in 2022/23 for local government in England, an increase of up to £3.7 billion on 2021/22.
Inflation forecasts are higher than they were at the 2021 Spending Review. How this interacts with the finances of local government is not straightforward. For example, some councils will have energy contracts expiring soon, whereas others will be fixed for some time. We are working closely with local authorities to monitor the impact on service delivery and budgets.
Councils will, of course, benefit from the Government’s Energy Bill Relief Scheme this winter.
To ask the Secretary of State for Levelling Up, Housing and Communities, what assessment his Department has made of the potential impact of (a) inflation and (b) energy costs on local authority budgets in 2023.
To ask the Secretary of State for Levelling Up, Housing and Communities, what assessment his Department has made of the potential impact of (a) inflation and (b) energy costs on local authority budgets in 2023.
The 2021 Spending Review settlement took into account a wide range of cost pressures. We announced around £1.6 billion additional grant for local government in 2022/23, including funding for Supporting Families and Cyber Resilience. The Local Government Finance Settlement made available £54.1 billion in 2022/23 for local government in England, an increase of up to £3.7 billion on 2021/22.
Inflation forecasts are higher than they were at the 2021 Spending Review. How this interacts with the finances of local government is not straightforward. For example, some councils will have energy contracts expiring soon, whereas others will be fixed for some time. We are working closely with local authorities to monitor the impact on service delivery and budgets.
Councils will, of course, benefit from the Government’s Energy Bill Relief Scheme this winter.