Local Government Finance Act

The Local Government Finance Act is a piece of legislation in the UK that governs how local councils manage their finances. It sets out rules for funding, including how councils can raise money through taxes, grants, and borrowing. The Act ensures transparency and accountability in local government spending, allowing councils to operate budgets effectively to provide services like education, transportation, and public safety. It also includes provisions for financial support to areas with less revenue, ensuring fair distribution of resources across regions. Essentially, it helps local councils maintain financial stability and serve their communities efficiently.