Another feature of the councilâ€™s finances that Labour are not bragging about, and deplorably the officers seem incapable of communicating clearly to residents either, is the New Homes Bonus. The New Homes Bonus is a grant paid by central government to local councils for increasing the number of homes and their use. You can read more about it here.
So far the government has given local councils Â£1.3 billion of new money. Ealing has already achieved Â£31 million of New Homes Bonus. It will get Â£5.1 million of this money in the next financial year. For more information see Table 4 on page 15 of the budget report.
Like the CT Freeze Grant I talked about on Thursday it isnâ€™t ring-fenced and the council can spend it on what it likes. Added to CT Freeze Grant that is Â£49 million of new money that the council hasnâ€™t told you about because it doesnâ€™t suit its message. This may be acceptable if unattractive if it is coming from Labour politicians but it isnâ€™t acceptable when it is council officers only telling half the story.