READING is set to win out from a government review into spending on local councils, with the borough council set to benefit from a £42.8 million cash injection.
The Labour government has announced how much money it will be giving each local authority in England following a review of council funding undertaken last year.
The news has been welcomed by Reading’s Labour MPs , Olivia Bailey (Reading West and Mid Berkshire), Matt Rodda (Reading Central), and Yuan Yang (Reading East).
Reading Borough Council will receive £42.8 million from the government for essential services, which is a 22 per cent increase in the council’s spending power.
Labour has claimed that local authorities like Reading were starved of investment under the Conservatives, stating that core spending power went down by around a quarter since 2010, putting immense pressure on local services.
The money the council will get is part of the first multi-year funding settlement in over a decade, giving councils three years of financial certainty so they can plan ahead rather than having to wait each year to find out how much government funding they may get.
In a joint statement, Olivia Bailey MP for Reading West & Mid Berkshire, Matt Rodda, MP for Reading Central and Yuan Yang, MP for Earley and Woodley said: “Despite years of underfunding by the Conservatives, Reading’s Labour council has resurfaced hundreds of roads across the borough, delivered fantastic new leisure facilities, and there will shortly be a new Central Library.
“Unlike the old system of funding of local government, which allowed some local authorities to build up massive savings, the government is now funding councils using an evidence-based system that properly recognises local circumstances.
“This cash injection for Reading will make a real difference to our communities and build on the fantastic work of Reading’s Labour council.”
