Changes to the current Public Works Loan Boards lending terms should avoid “unintended consequences” that harm regeneration projects, CIPFA has warned.
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.
Local authority borrowing continued to rise in June to £3bn, £100m more than in May, and ten times higher than the figure for June 2019, according to figures from the Office for National Statistics.
Councils borrowed £875m for housing projects in March from the Public Works Loan Board after the introduction of a special rate for housing revenue account projects in the Budget.
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.
The government will need a plan to manage its Covid-related debt in place by the autumn, according to former permanent secretary to the Treasury, Lord Macpherson.
Government borrowing in response to Covid-19 could rise to £500bn in the wake of chancellor Rishi Sunak’s economic package announced yesterday, according to the Institute for Fiscal Studies.
With significant and unexpected swings in cashflow, a reduction in loan margins would make all the difference for councils, argues local authority treasury adviser Arlingclose's strategic director...
Government borrowing could reach as high as £300bn this year, due to the economic policies put in place to ease finances during the coronavirus pandemic, according to think-tank the Centre for Policy...
The framework governing capital investment by local authorities has been tested to breaking point by councils borrowing cheaply to invest in commercial property, according to a recent NAO report.
A London council has raised £80m for its capital investment programme through a private placement, beating the Public Works Loan Board rate despite the turbulent market disrupted by the coronavirus.
The coronavirus pandemic is on course to cause the deepest recession in the UK since the financial crisis of 2008, according to the Centre for Economics and Business Research.
Lending between councils has dropped as councils look to keep hold of cash due to concerns over the coronavirus pandemic, according to treasury adviser Arlingclose.
The Treasury has written to local authority finance officers to confirm a new discount rate for borrowing for housing spending from the Public Works Loan Board.
CIPFA’s chief executive warns that government proposals to restrict council investment in commercial property could signal a more prescriptive approach.
Rishi Sunak hinted at a coming change to the government’s fiscal rule, promising to report back to parliament in the autumn after consulting with experts on how extra spending could boost the economy.
Local authorities dived back into Public Works Loan Board borrowing this week after the interest rate on some loans dropped below 2% following the coronavirus outbreak.
The Scottish Government is to press for greater borrowing powers to deal with the increasing fiscal risk arising from the devolution of tax and welfare powers, after it borrowed £200m to pay for its...
Local authority investment in commercial property has increased fourteen-fold over three years as councils seek alternative sources of revenue amid cuts leaving them open to risk, the spending...
Revised Office for Budget Responsibility forecasts show that Britain’s deficit is likely to be £20bn higher in each year to 2023-24 than was projected in March 2019.
Scottish ministers have asked the Treasury to review the Scottish Government’s borrowing limits “as a matter of urgency” in the light of growing concerns over the volatility of tax receipts north of...