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Legality and LocalityThe Role of Law in Central-Local Government Relations$
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Martin Loughlin

Print publication date: 1996

Print ISBN-13: 9780198260158

Published to Oxford Scholarship Online: March 2012

DOI: 10.1093/acprof:oso/9780198260158.001.0001

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Innovative Financing in Local Government

Innovative Financing in Local Government

(p.322) 6 Innovative Financing in Local Government
Legality and Locality

Martin Loughlin

Oxford University Press

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

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