High construction costs and concern over the impact of interest rate rises mean Enfield Council will review how it delivers a 10,000-home development project, and the authority has already pressed...
Financial market instability caused by the government’s mini-budget has pushed Public Works Loan Board borrowing rates up to their highest point in a decade, piling more pressure on council finances.
Crisis-hit Thurrock Council has been given permission by the government to borrow almost £840m from the Public Works Loan Board to repay finance from other local authorities.
The government is set to restrict new local authority borrowing from the Public Works Loan Board if it believes the council is at risk of not repaying.
An English city council is restructuring a debt owed by its landmark seafront attraction to ensure it is repaid “as quickly as possible” following three years of missed payments, but has delayed a...
Local authority borrowing from the Public Works Loan Board remains low following four Bank of England interest rates hikes, after councils capitalised on record low finance last year,...
Local authorities in the UK borrowed just £130m from the Public Works Loan Board in January, as the cost of borrowing leapt following December's Bank of England interest rate rise.
A waste management authority for seven London boroughs, borrowed £280m from the Public Works Loan Board last month to help fund a new waste-to-energy facility.
Local government bodies continued to pile into the Public Works Loan Board last month, as authorities take advantage of cheap financing, according to a finance chief.
The London Borough of Barking and Dagenham used Public Works Loan Board funding to increase its housing stock, with help from an authority-owned company.
Councils are allowed to use Public Works Loan Board borrowing to restructure existing debt even if they are pursuing banned commercial investment, according to new government ...
Local authorities in the UK borrowed more than £1bn from the Public Works Loans Board last month, as demand returned to the facility following Covid-19.
Local authorities in England borrowed £856m from the Public Works Loan Board last month, as councils refocus on capital projects following a lull due to Covid-19.
Reading Borough Council has scrapped plans to add to its commercial property portfolio due to Covid-19 and changes to Public Works Loan Board lending rules.
Local authorities borrowed £252m from the Public Works Loan Board in December, the highest sum borrowed since April, following November’s one percentage point drop in borrowing rate.
The recent restrictions imposed on borrowing from the Public Works Loan Board will make budget management in the medium term more challenging, ratings agency Moody’s has said.
Reforms to the system of accessing Public Works Loan Board borrowing increase the importance of good decision-making by council section 151 officers, says David Blake.
The government has reversed its October 2019 hike in the Public Works Loan Board borrowing rate and introduced a ‘ban’ on councils borrowing to raise revenue from commercial property.
The amount of money owed by local authorities to the Public Works Loan Board fell for the first time in almost four years during the second quarter of 2020-21.
Local-authority-to-local-authority borrowing continues to rise, as short-term borrowing rates dropped to 0% last week, according to local government treasury advisors Arlingclose.
