Local Government Finance: Surrey
The question
To ask the Secretary of State for Housing, Communities and Local Government, how changes to the fair funding formula will affect the spending power of (a) Surrey County Council and (b) district and borough councils in Surrey.
Answered by Alison McGovern
This multi-year Local Government Finance Settlement is our most significant move yet to make English local government more sustainable. The government is making good on long overdue promises to fundamentally update the way we fund local authorities. Our reforms will ensure that this funding is allocated fairly, and that the places and services which need it most are supported.
Since coming into power, this government will have made available a 23.6% cash-terms increase in Core Spending Power in 2028-29 compared to 2024-25, worth over £16 billion. By the end of the provisional multi-year Settlement (2028/29), Surrey’s Core Spending Power will have increased by £82m (7%) since 2024/25. We will support local authorities to manage their updated funding positions by phasing in changes over the multi-year Settlement and protecting councils’ income, including locally retained business rates growth.
Areas will need to agree how to divide available funding locally in a sustainable way during the local government reorganisation implementation period. This will provide areas with greater flexibility.
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