It will save money at a time when austerity is the password.
The concept of annuality is totally alien to the business world. It results in unnecessary expenditure across all government departments at the end of each financial year just to maintain the level of a department's next year budget. Allowing sensible medium and long term planning is a pre-requisite to sound economic management. The same is even more applicable to Local Authorities. This does NOT mean that Local Authorities and Government Departments become unaccountable by virtue of the checks and ballances that should be in place in any event.