Archive by category Finance and Money

City Council forced to propose budget cuts as Government fails to cover the cost of Covid

City Council forced to propose budget cuts as Government fails to cover the cost of Covid

The Government’s failure to fully cover the costs of the Covid pandemic has forced Nottingham City Council to propose an additional £12.5m of budget cuts which will affect local services. The Council has seen estimated costs and lost income due to Covid-19 soar to £87.9 million since the pandemic began. Emergency funding has been needed […]

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£3.3m of discretionary grants paid to businesses – but the job isn’t finished yet, says Nottingham City Council

£3.3m of discretionary grants paid to businesses – but the job isn’t finished yet, says Nottingham City Council

Nottingham City Council has paid its full allocation of discretionary grants to small businesses, called the Nottingham Small Business Fund, but councillors say they wish they could have achieved more. Over £3.3 million has been paid to around 500 applicants, including businesses in shared office spaces, market traders and charities after Nottingham City Council led […]

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Government announcement on Council funding is “not what was promised” 

Government announcement on Council funding is “not what was promised” 

The Government has failed to deliver on its pledges to fully compensate Nottingham for the costs and impact of the Covid-19 pandemic says City Council Portfolio Holder for Finance, Councillor Sam Webster. In total Nottingham has incurred estimated costs and lost income of £85million due to Covid-19 with only £19million of Government support having been […]

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Over £2.5m of discretionary grants paid to local businesses as second round opens

Over £2.5m of discretionary grants paid to local businesses as second round opens

Over 300 businesses have received a discretionary business support grant from Nottingham City Council to support small businesses in the city. Grants of £2,500, £5,000 and £10,000 have been paid out by the Nottingham City Council Economic Recovery Unit to eligible businesses, such as those in shared or flexible workspaces, market and street traders, charities […]

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Council faces severe financial consequences unless Government delivers on its promises

Council faces severe financial consequences unless Government delivers on its promises

The financial impact of Covid-19 on Nottingham City Council is now estimated at around £86 million, the authority has revealed today. Like councils across the country, this means severe consequences for Nottingham unless the Government delivers on its promises to provide adequate compensation for the costs of the pandemic. The full scale of the financial […]

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Further warning on COVID scams during fortnight of action

Further warning on COVID scams during fortnight of action

Nottingham City Council has today issued a fresh warning of coronavirus scams as part of a national campaign of action. This week sees the start of Scams Awareness Fortnight, run by Citizens Advice, which has a focus on raising awareness of the scams that have emerged as a result of the COVID-19 outbreak. The council’s […]

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Ongoing Government support needed to prevent “spiral of decline” for retail and hospitality businesses

Ongoing Government support needed to prevent “spiral of decline” for retail and hospitality businesses

Government must continue to support small retail businesses over the coming months or risk a “spiral of decline” in our town and city centres according to Councillor Sam Webster, Nottingham City Council Portfolio Holder for Finance. Non-essential shops in Nottingham and the rest of the Country are able to reopen on 15th June following weeks […]

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Nottingham Small Business Fund launched – but Central Government funding not enough, says City Council

Nottingham Small Business Fund launched – but Central Government funding not enough, says City Council

A new small grants programme to support more Nottingham businesses affected by the COVID-19 pandemic has been launched today by the City Council’s Nottingham Economic Recovery Unit (NERU), however the council has warned the fund is not enough to support every business that needs it. The latest round of grants is targeted at businesses who […]

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Honour our key workers by funding their work, says City Council

Honour our key workers by funding their work, says City Council

Councillor Sam Webster, Nottingham City Council’s Portfolio Holder for Finance, has today warned that vital council services are under severe threat unless the Government keeps its promises to fully reimburse the authority for the impact of the Covid-19 crisis. According to Councillor Webster, ‘failure by the Government to provide adequate funding risks triggering cuts to […]

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