Finance officers say council tax benefit reform is a threat to local government
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Markets open in 3 hrs 28 mins YOUR FRIENDS’ ACTIVITY Remind me when I share | Not you? Log out of Facebook How to remove this experience Finance Latest News: Stocks Drift Lower Before Fed Releases Minutes Link 13 hours ago, Wochit Stocks drifted lower ahead of the release of minutes from the Federal Reserve’s latest policy-meeting. Federal Reserve officials expressed concern about how well the central bank was conveying its policy intentions to a jittery investing public, according to minutes from the most recent meeting. Billionaire investor Carl Icahn says he will ask a Delaware judge to assess whether a proposed $24.4 billion acquisition of Dell represents a fair price for the struggling personal computer maker.
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Yet despite the financial challenge facing councils, only a quarter of chief finance officers (26%) said they were looking to outsource their services to the private sector. Less than a third (32%) are resorting to withdrawing or discontinuing services to save money. The study also revealed widespread concern about government plans to devolve responsibility for local services down to communities. One respondent from a borough told researchers: “Whilst the government may well think that people are gagging to get involved in the running of local services, on the ground I don’t necessarily think that is something we’re experiencing.” Scott used the conference to suggest that securing the future of local government may depend on a radical restructure of the English council system.