Local authority financial sustainability and the section 114 regime Contents



1 Introduction

Our inquiry

Structure of this report

2 Social care

3 Funding

Making local government more self-sufficient

Business Rates Retention Scheme

Council tax

Devolution of revenue-raising powers

Multi-year spending reviews

4 Covid-19

Impact on local government finances

Government support

5 Local authority commercial investment

Commercial investment and borrowing for yield

Oversight and the role of central government


Councils encouraged to be more self-sufficient

Reform of the PWLB’s lending terms

Prudential framework

Prudential code

6 Audit and control

Local audit

Section 114 regime

Annex: Croydon Council

Conclusions and recommendations

Formal minutes


Published written evidence

List of Reports from the Committee during the current Parliament

Published: 19 July 2021 Site information    Accessibility statement