Capital spending drops 10% - but rise beckons

摘要

Local authority capital expenditure fell by more than 10% to ￡20.7bn in 2011/12, but a boost in housing spend is set to increase overall levels next year, official figures have revealed. According to a report issued by the UK Statistics Authority on 28 June, last year's decrease in capital expenditure was partly due to a 14% reduction in new construction and conversion spend - from £4.5bn to £3.6bn.