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The four councils announced as receiving “exceptional” government support have been promised a total of almost £100m by the end of 2021-22, LGC has learned. Luton BC, Bexley LBC, Peterborough City Council and Eastbourne DC have together been granted permission to borrow up to £50m to spend on day to day services for this financial year, through capitalisation directions. The move is a break with normal rules governing council borrowing, which stipulate councils can only take on debt to fund capital spending. The councils have told LGC the government has indicated an additional £45m of similar support will be available for 2021-22. ....
Four councils get emergency bail out deal from Government Four councils that are unable to balance their budgets will receive emergency funding from the Government. The councils - Bexley, Eastbourne, Luton and Peterborough - have been granted the support due to their unique circumstances or residual issues . The councils have each been awarded a Capitalisation Direction enabling them to borrow in order to fund revenue costs. Bexley LBC has been issued a capitalisation directive for £3.87m, and will receive just over £6m in grant funding. Teresa O Neill, council leader, said: The directive is a further tool to help us manage the financial uncertainty the pandemic has created. We will only use it if we need to. ....