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<p>Local government Core Spending Power is £45.1 billion in 2018-19, equivalent to
2.1% of forecast nominal Gross Domestic Product, as outlined in the OBR October 2018
Economic and Fiscal Outlook. The provisional Local Government Finance Settlement published
on Thursday 13<sup>th</sup> December set out that Core Spending Power is forecast
to increase to £46.4 billion in 2019-20, equivalent to 2.1% of forecast nominal Gross
Domestic Product. Longer term funding decisions will be made at the Spending Review
next year.</p>
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