Thurrock Council’s concentrated investment strategy was a failing that resulted in a £470m budget black hole, according to the official turnaround team.
A district council in Somerset, which has spent more than £40m in commercial property outside of its boundaries, has abandoned further investment plans, amid proposed borrowing restrictions in the...
Two-thirds of respondents to a consultation on a strengthening of the Prudential Code support adopting the proposed new wording without amendment, a senior CIPFA figure has revealed.
Proposed amendments to the CIPFA Prudential Code seeking to strengthen restrictions on borrowing for commercial purposes have been dubbed 'relatively clear' by a senior civil servant.
A district council has urged CIPFA to amend proposed changes to the Prudential Code, saying they could force it to sell commercial property it claims is vital to supporting services.
Proposed updates to the CIPFA Prudential Code aimed at restricting borrowing primarily for yield purposes, could lead to ‘unintended consequences’, according to the Local Government Association.
Councils failing to meet their legal requirement to properly 'have regard' to revised Prudential and Treasury Management Codes risk provoking further central government intervention in the...
CIPFA has announced its intention for a ‘soft launch’ of its forthcoming revised Prudential and Treasury Management Codes, with full implementation set to be expected for 2023-24 strategies.
CIPFA has launched two new consultations on its Prudential Code and Treasury Management Code, focusing on commercial investment and officer training respectively.
CIPFA is proposing to boost the information it provides on proposed borrowing restrictions on borrowing for yield in its update to the Prudential Code.
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.
Richard Lloyd-Bithell, senior technical manager at CIPFA, runs through the new proposals for the Prudential Code in response to increased local authority investment in commercial property.
Changes to the current Public Works Loan Boards lending terms should avoid “unintended consequences” that harm regeneration projects, CIPFA has warned.
A small number of councils buying commercial property purely to make money should not result in a complete overhaul of CIPFA’s guidelines on investment, chief executive Rob Whiteman has told MPs.
