A minister told Woking Borough Council it should review its mammoth capital programme in 2021 while rejecting the authority’s request for financial support.
Fiscal policy has already helped mitigate the impact of two economic calamities this century – but it shares responsibility for economies’ growing exposure to risk, says OBR head Richard Hughes.
CIPFA chief executive Rob Whiteman raised concerns over a lack of diversity in council investments, at the annual Local Government Association conference today.
Around three fifths of those who bought a home through the Help to Buy scheme would have been able to buy a property without the government’s help, according to the National Audit Office.
Councils are still being called on to do more with less but the move towards investment in commercial property may not be an appropriate response, says CIPFA’s Don Peebles.
CIPFA has urged local government pension scheme administrators to develop their own comprehensive risk management framework as it issued revised guidance in this area.
Amid huge uncertainty about funding services beyond 2020, councils are turning to commercial property as an income stream, but are they managing the risks? Rachel Willcox reports.
Some 80% of risk-related costs are often overlooked. Managing these can lead to sustainable financial savings, both directly and indirectly, says Zurich Municipal's Andrew Jepp.
Effective risk management drives good decision making, but there should be a greater focus on the quality of discussions than the quality of documents, says audit manager Gurpreet Dulay.
The role of local government is changing. Commercialisation is now a necessary response to funding cuts and a new freedom to take risks, says Zurich’s Andrew Jepp
Less than half of risk professionals in public sector organisations have said there is not enough risk awareness when managing commercial projects, research has suggested.
Regulatory changes mean councils will need to look at potential gains and losses more prudently, and may mean higher reserves are needed, says CIPFA's Alison Scott.
Public sector finances will be hit by a dramatic upcoming change to the discount rate applied to personal injury payments, a leading insurer has warned.
In summer 2016, Public Finance and insurance brokers Arthur J. Gallagher teamed up to carry out some research into risk financing in the public sector.
