Chapter

Innovative Financing in Local Government

Martin Loughlin

in Legality and Locality

Published in print August 1996 | ISBN: 9780198260158
Published online March 2012 | e-ISBN: 9780191682049 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780198260158.003.0007
Innovative Financing in Local Government

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This chapter examines the responses of local authorities to the government's attempts to restrict their expenditure programmes. It shows that with the disintegration of conventional restraints, many local authorities began to exploit the ambiguities within the legal framework of local government and attempted to protect their budgets through the adoption of a variety of ‘creative accounting’ devices and through the use of new types of financial instruments. It also shows that many of these innovative financing devices operated to frustrate the government's ability to achieve its objectives and that the government was drawn into the exercise of having to draft increasingly restrictive forms of legislation to curb these practices.

Keywords: expenditure programmes; local government; creative accounting; financial instruments; innovative financing

Chapter.  21161 words.  Illustrated.

Subjects: Constitutional and Administrative Law

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