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16 May 22
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.
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12 May 22
CIPFA has welcomed government proposals to take greater intervention powers over council finances, saying they could help identify potential problems at an earlier stage.
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11 May 22
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.
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11 May 22
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,...
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10 May 22
Rating agency Moody’s has downgraded Transport for London’s credit rating for the third time since the onset of Covid-19, partly down to ongoing uncertainty over long-term funding.
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27 Apr 22
Shropshire Council is set to scale back its capital spending plans by more than £100m by 2025-26 amid concerns over debt servicing costs.
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20 Apr 22
Durham County Council is set to sell a new £50m office which it has not yet occupied, to help reduce costs as the authority moves to more flexible working.
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11 Apr 22
The Department for Levelling up Housing and Communities is considering proposals to publish the full value of local authority investments and data on subsidiary companies.
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7 Feb 22
Transport for London has received a two week extension to its funding agreement with the government as the network seeks longer-term support.
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7 Jan 22
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.
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10 Dec 21
Cash-strapped Peterborough City Council is set to freeze its capital spending in 2021-22, and nearly eliminate new borrowing next year.
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3 Dec 21
Capital spending by local authorities dropped by 8% during 2020-21 compared to the previous year as Covid-19 delayed projects and councils veered away from buying property due to changes in...
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30 Nov 21
The government is proposing new rules that would prevent councils avoiding making provision for debt servicing payments on commercial investments.
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3 Nov 21
An energy company owned by Warrington Borough Council has delayed complying with an order to pay £12.4m to regulator Ofgem, running the risk of losing its licence to supply energy.
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27 Oct 21
The joint Spending Review and Autumn Budget pledged real-terms funding increases for each central government department. PF rounds-up where that money is heading.
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24 Sep 21
CIPFA has launched two new consultations on its Prudential Code and Treasury Management Code, focusing on commercial investment and officer training respectively.
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21 Sep 21
Leicestershire County Council has agreed to use its own resources fund an increase of £23m in the funding gap on its capital budget.
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3 Sep 21
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.
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13 Aug 21
Westminster City Council’s management of an over-budget local attraction which has become a national laughing stock has been branded ‘as an exercise in unaccountability’ by the authority's...
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12 Aug 21
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 ...
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6 Aug 21
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.
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29 Jul 21
The government has raised the prospect of statutory borrowing caps for local authorities to prevent excess risk in capital spending.
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22 Jun 21
Capital spending among Scottish local authorities fell by more than £1bn last year amid Covid-19 disruption, provisional figures show.
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12 May 21
The London Borough Croydon has proposed reprofiling a £69.2m arts centre refurbishment as capital spending, after council subsidiary Brick by Brick was “unable” to fund the project.
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7 May 21
South Lanarkshire Council has approved the transfer of £8m to its capital programme, after receiving additional Covid-19 funding from the Scottish Government.