The official statistics on the provisional forecast figures of local authority capital expenditure and receipts in the financial year April 2014 to March 2015 was released on 27 February 2014.
This release provides information on local authorities’ anticipated capital expenditure and receipts for 2014 to 2015. The information is used to inform public expenditure planning and consideration of likely levels of public sector borrowing in the financial year, including whether the government wishes to use its reserve power to set a national limit on increases in borrowing.
This information has previously been published as live tables on the department’s website. This is the first time it is being published in the form of a statistical release.
The release includes data from 2009-10 to 2014-15.
The main points are:
- the provisional forecast capital expenditure increased from £21.3 billion in 2013 to 2014 to £23.3 billion in 2014 to 2015, a year-on-year increase of 9.5%
- the provisional forecast capital receipts increased from £1.8 billion in 2013 to 2014 to £2.3 billion in 2014 to 2015, a year-on-year increase of 23%
- the financing of capital expenditure through central government grants slightly increased from £7.9 billion in 2013 to 2014 to £8 billion in 2014 to 2015, a year-on-year increase of 1.5%
- between 2009 to 2010 and 2014 to 2015 capital financing requirement increased by 39% mainly due to the Greater London Authority paying Transport for London for their increased planned expenditure for Crossrail and London Underground investment programme, and in 2012 to 2013 taking over the Homes and Communities Agency’s London responsibilities and other regeneration programmes