UDFs the key to capital expenditure progression

摘要

Urban development funds (UDFs) could be used to arrest the decline of local authority capital expenditure, a think tank has suggested. Capital expenditure by local authorities in England fell from £20bn in 2011-12 to £18.9bn in 2012-13,a year-on-year decrease of 5.5%. The year before the figure fell by more than 10% but experts predicted a rise in 2012-13 from a boost in housing spend. Capital expenditure was forecast to increase by 3% in 2012-13 to £21.4bn, including a major 23% boost for housing. In fact, local authority capital expenditure on housing only went up by 14% from £3.27bn to £3.73bn.