Four commissioners have been appointed to a Surrey local authority struggling with more than £1bn in debts to deliver value for money and financial sustainability.
A history of “potentially unlawful” lending, underpinned by “wholly inadequate” governance arrangements, may have contributed to the financial collapse of Woking Borough Council, according to an...
Warrington Borough Council is to face an investigation after figures revealed it is £1.8bn in debt – five and a half times its total service expenditure – but the authority insists its commercial...
Woking is targeting becoming “one of the most improved councils in the country” through its improvement and recovery plan – a draft of which has now been published.
Financial woes at the London Borough of Croydon could worsen if it cannot write off more than half of billion pounds of maturing loans, as high interest rates look set to add millions to its costs.
The UK’s “rapid” economic recovery after lockdowns and the government’s efforts to cut the deficit following the large Covid-19 support schemes have led to rating agency Fitch affirming its judgement...
Liverpool City Council has completed the refinancing of £65m of ‘lender option borrower option’ (LOBO) loans with borrowing from the Public Works Loan Board.
A city council will take on £107m of debt to repay £65m of 'lender option, borrower option' loans, but still expects to save £18m over the life of the debt.
Brighton and Hove City Council has deferred a £1.2m loan payment from Brighton i360, a 530ft viewing tower, to help with its cash flow – over fears the attraction’s failure would cost more in the...
The UK’s debt repayments will be favourable, despite risks stemming from an elevated deficit and future Brexit-related shocks, according to ratings agency Moody’s.
Plymouth City Council’s recent interest rate swap transaction bears little resemblance to the deals that gained notoriety in the late 1980s, says an adviser whose firm worked on the deal.
Public sector net borrowing reached the highest level ever recorded in the first half of the fiscal year as the government tried to deal with the health and economic consequences of Covid-19.
The UK government will need to get record debt in relation to GDP onto a “downward path” once the economy has recovered from Covid-19, according to the OECD.
Savings made by private sector firms and employees during lockdown could help pay for tax rises to cover the repayment of government Covid-19 debt, according to the National Institute of Economic and...
The financial system that emerged from separation of debit and credit in the 14th century seems to be nearing the end of its useful life, says David Kauders.
Ratings agency Moody’s has warned that it could downgrade the UK’s credit rating if it fails to provide a credible debt reduction strategy following Covid-19.
The Treasury has announced a further round of gilt sales, taking the planned 2020-21 total to £385m – more than double the amount anticipated in March’s Budget.
