UK May Ease Rule on Council Asset Sales to Curb Bankruptcies (1)

UK government ministers are quietly working on a major loosening of budget rules for local councils, giving them the ability to sell assets to fund front-line services and helping to stave off a wave of bankruptcies.

The measures if adopted could unlock £23 billion to help stabilize the budgets of local government authorities and reduce the risk of financial chaos in the months leading up to the next general election.

The proposals were released in a “call for views” document pushed out alongside a boost for local government funding announced late last year by Michael Gove, the secretary of state ...