DCLG consults on bid process for use of capital receipts
0The Department for Communities and Local Government has launched its consultation into the use of capital receipts from asset sales for investing in reforming services.
It follows on from the announcement in the spending review that the government would consider allowing such receipts to help with services but stresses that capital receipts may only be used for one off revenue costs that DCLG says “will help deliver sustainability in the longer term”.
It seems that the Department also envisages a bid based process where councils set out a cost/benefit analysis to demonstrate how their proposals would work, including how they would reduce ongoing or long-term costs, how they might work across public services and exactly which asset/s would be sold to fund the proposal.
The consultation closes on September 24.
