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.
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.
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.
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.
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...
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.
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.
CIPFA has launched two new consultations on its Prudential Code and Treasury Management Code, focusing on commercial investment and officer training respectively.
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.
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...
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 ...
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.
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.
South Lanarkshire Council has approved the transfer of £8m to its capital programme, after receiving additional Covid-19 funding from the Scottish Government.
An ambitious IT system for health boards and local authorities in Wales is taking longer to roll out and more “costly than expected”, according to Audit Wales.
Council investment in buying buildings dropped by 56% in the first quarter compared to last year, while spending on new construction projects fell just 14% according to government data.
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.