The detail of the grant settlement announced today by the government makes for tough times for South Cambs.Officers at Cambourne have done the math and reckon it to be a cut of £1m in formula grant in 11/12 then another three quarters of a million off the following year. So a %16 reduction in year one and another ten per cent in year two.
Government adds it up differently, saying the cut is 5%, but it counts the £3.6m from parish precepts in there. It is a lot to lose taking effect almost immediately, ie "front-loaded". Lots of savings will have to come from back-office mergers, but to be effective, these take time to put together.
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