‘Promised’ fund­ing could be re­moved

The Peterborough Evening Telegraph - - News -

Peter­bor­ough City Coun­cil has been of­fered what it be­lieves is a ‘guar­an­teed’ three years of fu­ture fund­ing from the Gov­ern­ment.

How­ever, the coun­cil ad­mits that due to the re­cent EU ref­er­en­dum there is a “sig­nif­i­cant risk” that what it be­lieves is guar­an­teed fund­ing could ac­tu­ally be with­drawn or amended.

The cash-strapped author­ity, though, is pre­par­ing to ac­cept the deal which would see its 2016/17 £27 mil­lion rev­enue sup­port grant re­duced to just over £10mil­lion in 2019/20.

But the of­fer is only ac­cept­able if the coun­cil pro­duces an ‘Ef­fi­ciency Strat­egy’ which is ex­pected to be ap­proved on Mon­day.

If the fund­ing of­fer un­til 2019/20 is not ac­cepted then the coun­cil will not know how much money it will re­ceive more than one year in ad­vance.

From 2020 on­wards, the coun­cil says a new sys­tem could be in place where the Gov­ern­ment grant is re­moved but that the coun­cil keeps 100 per cent of the busi­ness rates it col­lects.

Coun­cil­lor Irene Walsh, cabi­net mem­ber for com­mu­ni­ties and en­vi­ron­ment cap­i­tal, said she ex­pects the cabi­net to take the Gov­ern­ment’ s fund­ing of­fer.

The coun­cil be­lieves more will be known fol­low­ing the Gov­ern­ment’ s next bud­get, which it ex­pects in the au­tumn.

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