ABSTRACT
This chapter examines fi scal federalism and local revenues. Chapter 7 analyses local government expenditures and municipal debts.
As Pratchett notes:
fi nancial autonomy (the right to raise revenue and set spending priorities independently of central government) lies at the heart of competing ideological commitments to local autonomy… legal, political and organizational autonomy is meaningless without the resources to realize the benefi ts of such autonomy.1
