CIPFA has praised Slough Borough Council’s finance director on the decision to publish a section 114, freezing all non-essential spending as the authority attempts to balance its budget.
The London Borough of Croydon may need to write-off up to £52m in loans to wholly-owned housing firm Brick by Brick, after rejecting the sale of the company.
Uttlesford District Council is applying for a credit rating to allow it access to a greater range of borrowing to fund its multi-million programme of out-of-borough commercial investments.
CIPFA is proposing to boost the information it provides on proposed borrowing restrictions on borrowing for yield in its update to the Prudential Code.
The coronavirus pandemic and tighter government lending rules led to a 41% real-terms contraction in councils' payments for land and buildings last year, according to provisional outturn figures.
A proposed liability benchmark to help local authorities manage their debt needs could save the sector tens of millions of pounds, according to an industry expert.
Budget measures imply the government will have borrowed an ‘unprecedented’ £570bn over this financial year and next, according to the Office for Budget Responsibility.
The government is set to borrow a peacetime record £394bn this year, as it funds Covid-19 support measures, according to the Office for Budget Responsibility.
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.
An Essex council says it has been forced to change its borrowing strategy because other councils are unwilling to lend to it after negative press coverage over its investments.
Capital receipts for councils in England dropped by more than 30% last year to £2.8bn, the lowest level in the last five years, according to government statistics.
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.
Plymouth City Council’s interest rate swap deal shows councils’ continued appetite for borrowing. David Moore examines the deal and other options available to authorities.
Proposed restrictions on borrowing from the Public Works Loan Board should be dropped to allow district councils to develop new income streams in the wake of Covid-19, the District Councils Network...
Luton Borough Council has approved the borrowing of £60m, which it then intends to lend to its wholly-owned London Luton Airport Ltd as it seeks to offset losses resulting from Covid-19.
The coronavirus pandemic has led to local authorities exploring different paths for borrowing, says Merrick Cockell, chair of the UK Municipal Bonds Agency.
Northampton Borough Council has approved proposals to borrow an additional £50m to help with the acquisitions of properties, in a bid to reduce homelessness in the borough.
