Chancellor Rishi Sunak has announced a grant funding package worth up to £4.6bn to be allocated by councils, to help keep businesses in Britain afloat following the third national lockdown.
Merton Council plans to wind up its wholly owned housing company Merantun Development Ltd, after the company’s business case was deemed “no longer viable”.
Local government secretary Robert Jenrick is to appoint an expert panel to help address “appalling” financial management issues at Nottingham City Council, following a government rapid review.
The government is to reduce the New Homes Bonus to free up funding for local authority grants, it announced as part of the provisional local government finance settlement.
A mechanism to give private investors control of public nuclear projects is still considered a “credible basis” for funding the sector, the government said today as it launched its energy white paper.
The new local government audit body proposed by the Redmond Review should produce an annual report on the whole local government sector, CIFPA has said.
A team sent in by ministers has concluded that Nottingham City Council cannot set a balanced budget for next year without government support, according to a leaked report.
More than half of local authority audit opinions for 2019-20 missed the extended 30 November deadline, according to oversight body Public Sector Audit Appointments.
Local authorities’ spending on buying property has fallen more than half following the outbreak of Covid-19, according to statistics from the Ministry of Housing, Communities and Local Government.
The London Borough of Croydon has issued a second section 114 notice after it was unable to make sufficient cuts to balance a forecast £66m overspend in its budget this year.
The Covid-19 pandemic is likely to have a long-lasting impact on governance and financial management in public bodies – Sarah Sheen looks at the issues.
Making hard choices is the only way for London Borough of Croydon to bounce back from the financial brink, says the authority’s cabinet member for finances.
City of Edinburgh Council’s use of its general fund reserves is unsustainable and will be unable to cover future economic shocks, Audit Scotland has warned.
Croydon Council has been unable to set out more than £11.2m of in-year savings towards a £67m shortfall this year – saying the task is impossible without central government support.
A council granted a capitalisation direction in March has warned it could be forced to deplete its usable reserves down to “unsustainable levels” to help meet an £11m funding gap.
The financial performance of London Borough of Croydon’s commercial companies and other ventures have consistently missed forecasts outlined in their business plans, according to a review.
Ealing Council has approved plans to borrow more than £390m over 50 years to on-lend to its housing company to build more than 1,300 affordable homes over the next six years.
