There would be cuts in state benefits, central government departments and a 26 % reduction in central government funding for local government. (en.wikipedia.org)
Local government is financed by grants from central government funds, business rates, council tax, and, increasingly, fees and charges such as those from on - street parking. (en.wikipedia.org)
The Government secures the repayment against the future central government funding of the council, not the actual asset that the council is acquiring (usually a large commercial property). (theesk.org)