1 December 2009

In the current financial year the central government redistribution of taxes through the formula grant gives Cornwall Council £157.280 million in the local government financial settlement. For 2010/2011 the formula grant is £165.664 million. Both of these figures are after floor damping.

See this previous post for an explanation and discussion of the formula grant and floor damping.

I think the settlement is good news for Cornwall at a time of national recession, threatened cut backs in public services, and very low general inflation. Cornwall is benefiting well from Labour’s three-year local government financial settlement scheme. Along with the promised savings from going unitary, this settlement should mean the maintenance and possibly modest improvement of council services without a rise in Cornwall council tax next spring.

Details of the local government financial settlement for Cornwall are here .

The £157.280 million is the original figure; the adjusted figure is £157.212 million. See Table 8 in the entry for Cornwall (Old) at the website of the Department for communities and local government.