§ Mr. Prescott
I have today laid before the House a draft Order, under section 57 of the Local Government Finance Act 1992, setting out our decision on the final cap for Derbyshire County Council.
We have considered very carefully all the available relevant information, including the case made by the Council in support of a higher cap, before taking our decision. We have decided to increase the cap proposed for Derbyshire, by £2.9 million.
Derbyshire's cap is, in our view, reasonable, appropriate and achievable in all the circumstances of the County Council. This decision will reduce public expenditure and the burden on council taxpayers in the County by £1 million in 1998–99. This will result in a council tax reduction (at Band D) of around £4.31.