Autumn Statement 2013: Relief for local government

Autumn Statement 2013: Relief for local governmen...

Benefits of social enterprise recognised.

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press release

Thursday 5th December 2013

Caroline Haynes, Director in KPMG’s Local Government practice, comments on the impact of the Autumn Statement on the sector:

“There will be a sigh of relief across local government bodies, that this was a Chancellor’s statement which unveiled no additional cuts for them to swallow. The sector can concentrate on the ongoing challenges it faces, to deliver more with less."

“Not only that but the efforts of local authorities to engage with the private sector over investment in the delivery of socially beneficial services has been given a hugely welcome boost with the announcement of tax relief on social impact bonds."

“This move to make impact investment more attractive stands help to secure funds for trying out innovative ways of delivering public services. It is undoubtedly a measure to be welcomed."

“It was also encouraging to note the Chancellor’s continued enthusiasm for regional fiscal autonomy in the context of the announcements relating to Greater Cambridge and Glasgow."

“His commitment to initiatives – City Deals or otherwise - designed to drive regional economic growth is a positive update. Delivery of financial innovation for accelerating infrastructure investment designed by local leaders for local people will be a hotly anticipated next step.”

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Follow us on twitter: @kpmguk #AS2013

For further information please contact:

Alison Anderson, KPMG Corporate Communications

M: 07733 453 065E:

KPMG Press office 0113 254 2980

About KPMG:

KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 12,000 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2012. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 156 countries and have 152,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.

This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.

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