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Settlement Funding Assessment (Actual) (5324) Metric type
- Help text
- The Settlement Funding Assessment consists of the local share of business rates, and Revenue Support Grant.
Revenue Support Grant is a central government grant given to local authorities which can be used to finance revenue expenditure on any service. The amount of Revenue Support Grant to be provided to authorities is established through the local government finance settlement.
The business rate retention scheme was introduced in April 2013 and has reformed the way in which local government is funded. It provides a direct link between business rates growth and the amount of money local authorities have available to spend on local people and services. Under the business rates retention scheme, authorities keep up to half of the local business rates revenue as well as growth on the revenue that is generated in their area.
- Modified
- 10 Feb 2023
- Data last updated
- 14 Feb 2024
- Short label
- Settlement Funding Assessment (Actual)
- Status
- Live
- Output precision
- 3
- Polarity
- a high value is good
- Measure
- Pounds (£millions)
- Dataset
- Core spending power
- Collection
- Core spending power
- Source
- Department for Levelling Up, Housing & Communities
- is found in the following lists
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