Local Government Finance
The question
To ask the Secretary of State for Housing, Communities and Local Government, what estimate he has made of the number of local authorities within scope of intervention powers under proposed regulations of council investments; and if he will list them.
Answered by Alison McGovern
The Government has recently published a consultation on the proposed capital risk metrics and associated regulations. The consultation sets out the proposed metrics, their calculation methodologies and the circumstances in which the Secretary of State’s powers may be exercised. The Department has sought to be transparent in its proposed approach and the evidence underpinning it.
The proposed framework is subject to consultation and change. Identifying councils within the scope of the powers will be subject to the final design of the framework. The Government will carefully consider responses from local authorities, representative bodies and other stakeholders before finalising the regulations. A Government response will be published following consideration of the consultation findings.
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