Nothing to Lose but Your Chains: Examination of Capital Finance System
Author: Tony Travers and Lorena Esposito |
Nothing to Lose But Your Chains
Reforming the English Local Government Finance System
In the final part of this major study into local government financial reform supported by Localis, Professor Tony Travers of the LSE examine the much overlooked capital finance system.
Any analysis of local government funding addresses an issue of significant importance to the United Kingdom’s unwritten constitution. The financial autonomy of regional and local authorities in England will directly influence the extent to which such institutions can choose to use their legitimate ? and directly-elected ? discretion to make decisions that may differ from decisions that would otherwise be imposed from the centre. Although there is some debate about the precise extent to which the proportion of income raised locally will influence local discretion, it would be surprising if there were no such link.