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Councils left to shoulder historic borrowing costs in Fair Funding Review

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The government’s decision to cut support for legacy borrowing costs as part of Fair Funding Review 2.0 could create “unfair” outcomes.

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Buried in the Fair Funding Review consultation, the government has proposed removing the legacy capital financing formula. This historically recognised and funded councils for

Mayors have welcomed government plans for good growth funding – which include the development of a £1.5bn borrowing facility from 2028 – ahead of the Autumn Budget and publication of the Fiscal Devolution Roadmap.

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