Proposed capital flexibility could see councils explore more risky debt-backed projects at a time when capacity challenges have weakened local oversight, a senior finance officer has warned.
The Department for Education (DfE) has confirmed that 43 more schools in England were constructed with reinforced autoclaved aerated concrete (RAAC) and need refurbishment, bringing the total to 214.
Rising construction costs and high interest rates have made East Ayrshire Council’s £24.5m renewable research project “unaffordable” in its current form, officers have said.
The continued rise in construction costs and high interest rates have forced some councils to halt their capital projects, and some are unlikely to be restarted, a treasury advisor has told PF.
The government will need to spend an additional £4.4bn a year to reverse the decline in capital funding and ensure schools are safe for children, unions have said.
Rishi Sunak cut funding for rebuilding schools with dangerous concrete construction while chancellor despite warnings of “a critical risk to life”, a former permanent secretary has claimed.
A “failure of management oversight and gross incompetence” within Renfrewshire Council contributed to the construction of a school as much as three times too small, an independent review has found.
Rising construction and labour costs have caused “slippages” and budget gaps in projects linked to a £1.3bn investment deal in south Wales, senior council officers have said.
Plans to allocate £2.5bn of funding to improve school and college buildings and support more school places fall well short of the sector’s needs after a decade of underinvestment, leaders have said.
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...
Millions returned to councils from a waste-to-energy plant prove a publicly owned facility is “far preferable” to paying for a private business to run the site, one of the councils has said.
Capital spending restrictions imposed on the Department for Levelling Up, Housing and Communities will hamper local authority investment and harm the government’s flagship policy, experts have warned.
Concerns over soaring private rental costs have prompted Westminster City Council to propose spending more than £80m to buy properties for temporary accommodation.
The successful delivery of savings and tight spending controls have helped Peterborough City Council make significant progress towards long term financial stability, an independent panel has said.
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.
The government is unlikely to hit its target for delivering affordable homes in rural areas, because wider market issues have had “a disproportionate impact” there, a senior civil servant has warned...
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.
CIPFA has welcomed government proposals to take greater intervention powers over council finances, saying they could help identify potential problems at an earlier stage.
The local government secretary will get new powers to direct asset sales and borrowing levels at councils deemed to be at financial risk, under a clause in this week's Levelling Up Bill.
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,...
