MHCLG · 13 December 2019 – 5 July 2024
Earmarked council reserves during the Conservative 2019–2024 government
↑ 30.6%+£6bn
Earmarked council reserves rose by 30.6% over the period, from £19.7bn (Year ending March 2019, the level when the government took office) to £25.7bn (Year ending March 2024, the last complete period before it left office). That is an average of +5.5% a year over the term.
- Inherited level Year ending March 2019: £19.7bn
- Level when it left Year ending March 2024: £25.7bn
- method: latest complete period before start / before end
In real terms (Year ending March 2024 prices, ONS CPI all-items index) the change is a rise of 5.1%: £24.5bn to £25.7bn. The figures above are cash terms as published. HM Treasury deflates public spending with the GDP deflator, not CPI, so official real-terms spending figures can differ.
Changes during this period do not by themselves show what the government caused. Statistics reflect many influences, including earlier decisions, the economy and how the data is collected.
The chart as a table
| Period | Earmarked council reserves |
|---|---|
| Year ending March 2018 | £17.6bn |
| Year ending March 2019 | £19.7bn |
| Year ending March 2020 | £21bn |
| Year ending March 2021 | £31.9bn |
| Year ending March 2022 | £32bn |
| Year ending March 2023 | £26.8bn |
| Year ending March 2024 | £25.7bn |
| Year ending March 2025 | £25bn |
Definition and caveats
The other earmarked financial reserves each English local authority held at 31 March — money set aside for named purposes, excluding schools, dedicated schools grant and public health reserves and excluding the unallocated line.
Doesn’t measure: How firmly the earmarking binds: councils can and do re-purpose earmarked reserves, so the split between earmarked and unallocated is partly a presentation choice.