Formula grant 'not working' says Richmond

摘要

Richmond LBC has called on communities secretary, John Denham, to reform the way local government finance settlements are formulated. Deputy leader, Stephen Knight, has written to the minister, accusing the formula grant system of being unfair, and demanding the issue be addressed by the Government. According to last week's Comprehensive Area Assessments, Richmond is performing well in managing resources and the council repeatedly scored four stars for value for money in the Comprehensive Performance Assessments. But, the authority feels the formula grant mechanism does not treat the borough fairly, as it continually has to rely on the floor mechanism to maintain minimum level of grant funding.