Rugby council's Government funding could be slashed from £2.6m to £299k
Rugby Borough Council's funding from the Government could be slashed by £2.3m, according to a council projection.
The figures are outlined in Rugby council's Medium Term Financial Plan, which sets out the authority's financial situation from now until 2019-2023.
In this plan, council officers have projected that Government funding for 2020/21 would total £2.6m, falling to £1.4m in 2021/22, then to £968k in 2022/23 and ending at £299k in 2023/24.
The huge loss of income is predicted to come from the scrapping or reduction of Government grant schemes, including the New Homes Bonus (NHB) - which the Advertiser has previously reported on.
These figures are not certain, but are a prediction made by council officers based on what information they have.
And the report adds that the the announcement of a General Election has confused the matter.
View the report in full by visiting www.rugby.gov.uk/meetings/meeting/978/cabinet