Thursday 5th December 2013
Caroline Haynes, director in KPMG’s Local Government practice, comments on the impact of the Autumn Statement on the sector:
“There will be a sigh of relief across local government bodies, that this was a Chancellor’s statement which unveiled no additional cuts for them to swallow. The sector can concentrate on the ongoing challenges it faces, to deliver more with less.
“Not only that but the efforts of local authorities to engage with the private sector over investment in the delivery of socially beneficial services has been given a hugely welcome boost with the announcement of tax relief on social impact bonds.
“This move to make impact investment more attractive stands help to secure funds for trying out innovative ways of delivering public services. It is undoubtedly a measure to be welcomed.
“It was also encouraging to note the Chancellor’s continued enthusiasm for regional fiscal autonomy in the context of the announcements relating to Greater Cambridge and Glasgow.
“His commitment to initiatives – City Deals or otherwise - designed to drive regional economic growth is a positive update. Delivery of financial innovation for accelerating infrastructure investment designed by local leaders for local people will be a hotly anticipated next step.”
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