Councils have over £22 billion in reserves

Posted at November 19, 2015 | Categories : News

Government figures published today show that England’s 444 local authorities hold £22.5 billion in non-ringfenced reserves, having added nearly £1 billion to their non-ringfenced reserves in the past year. The figure is up from £13 billion held in 2010.

Communities Secretary, Greg Clark, said that he recognises the need for councils to be responsible with taxpayers’ money and save for the future but they should also make efficient use of their assets and resources to best meet the needs of their local communities.