Lancashire County Council’s budget is set to be boosted by an extra £85 million over the next financial year thanks to an increase in the Local Government Finance Settlement (LGFS).
The LGFS 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 as a result of the announcement.
Under this years’ settlement, LCCs budget will see an 8% increase in its core spending power taking the annual budget up to £1.1 billion.
Burnley Borough Council will also see its core budget increased by over 5%, rising from £15.8 million in 2023-24 to £16.6 million for 2024-5.
Commenting Burnley and Padiham’s MP Antony Higginbotham said:
Since I was elected, I’ve fought hard to ensure that local government funding has risen each year. Council’s deliver vital local services that we all rely on and is why it’s important they are properly financed.
But given another year of increased funds I sincerely hope they use the extra money wisely and don’t unnecessarily increase Council Tax like we see each and every year.
Residents will 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 £86 million which has been provided to Burnley and Padiham through Levelling Up and infrastructure funding over the past 4 years.
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.
