Updated Cookies Policy - you'll see this message only once.
2018 was another year of real challenge for the local authorities.
We have seen the continued pressure on finances and budgets.
We see continued spiralling costs for adult social care business and children services which result in something like for some authorities now round about 70% of their budget being spent in those two areas.
Overall on the face of it a bit of a bleak 2018, however on the positive side there have been some really good examples of the way in which local authorities have responded to the challenges of 2018.
Firstly, we’re seeing more and more authorities automating and digitising their services.
Secondly, we are seeing more examples of shared services.
Thirdly, we are seeing some great examples of authorities joining together and finally the devolution agenda gathers pace.
As we move into 2019 I am expecting to see a lot of the same as we saw in 2018
I think we will continue to see pressure on budgets and finances as the austerity measures really start to bite in 2019 and 2020.
Estimates suggest that the gap between finances and the budgets could be anywhere up to £5 billion at the moment.
Secondly, I think we will continue to see more authorities issuing Section 114 Notices.
Thirdly, I do think we will continue to see an increase in the adult social care and children services budgets and of course we’re likely to have a continued low interest rate environment for the foreseeable future.
There are some real opportunities for local authorities in 2019 to meet those challenges head on and to enable them to start to deliver more with less.
They can embrace new technologies such as AI and robotics which will help them to improve the efficiency of the services.
They can embrace more on social value and how they can encourage suppliers to provide that value to local communities.
Thirdly is to ensure they are up-skilling their staff on that transformation agenda.
Fourthly is to do their banking as efficiently as they possibly can.
And finally, the way in which they manage their supplier payments is also a really good way of improving the efficiency and effectiveness of their cash flow.
To discuss switching to Corporate Banking at Barclays, call us on: 0800 015 4242 *
Your eligible deposits with Barclays Bank PLC are protected up to the FSCS compensation limit by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. This limit is applied to the total of any deposits you have with the following: Barclays, Barclays Corporate Banking, Barclays Investment Bank, Barclays Private Banking and Barclaycard. Any total deposits you hold above the limit between these brands are unlikely to be covered. For further information visit www.fscs.org.uk^ (opens in a new window).
Barclays Bank PLC is registered in England (Company No. 1026167) with its registered office at 1 Churchill Place, London E14 5HP. Barclays Bank PLC is authorised by the Prudential Regulation Authority, and regulated by the Financial Conduct Authority (Financial Services Register No. 122702) and the Prudential Regulation Authority. Barclays is a trading name and trade mark of Barclays PLC and its subsidiaries.
‡This link takes you to a Barclays Bank UK PLC website
*Lines are open Monday to Friday, 9am to 5pm. To maintain a quality service we may monitor or record phone calls. Call charges and information.
^You are about to link through to a non Barclays site. Please note that Barclays is not responsible for the accuracy or content of this website, and is not recommending it or giving any assurances as to its standing. Barclays does not accept any liability for any loss or damage suffered as a result of its use.