The following table shows the amount of formula grant Ashfield district council received in 2001-02 and will receive in 2008-09, along with the percentage change in real and cash terms.
|Local authority cash terms (£ million)|
|2001-02 Formula grant||7.714|
|2008-09 Formula grant||11.049|
|(a) Percentage change real terms||17.86|
|(b) Percentage change cash terms||43.23|
Formula grant comprises Revenue support grant, redistributed business rates, principal formula police grant, SSA reduction grant (SSA Review), SSA reduction grant (police funding review) and central support protection grant where appropriate.
The real terms increase has been calculated using the Treasury's latest GDP deflator, which is the only measure of inflation that is forecast in advance. This figure for 2008-09 is 2.75 per cent.
These percentage increases may not be on a like-for like basis because they cannot take account of changes in function and funding that have occurred over the years.