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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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19 Jul 21
Councils should be legally required to comply with CIPFA's Prudential Code to help curb risky investments, according to MPs.
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30 Jun 21
An investment company set up to buy commercial property on behalf of two councils has suffered cumulative losses of more than £12.5m since it launched four years ago.
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29 Jun 21
Uttlesford District Council is applying for a credit rating to allow it access to a greater range of borrowing to fund its multi-million programme of out-of-borough commercial investments.
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25 Jun 21
Sefton Council has approved plans to borrow £800,000 over the next three years to help improve the performance of an authority-owned shopping centre.
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24 Jun 21
CIPFA is proposing to boost the information it provides on proposed borrowing restrictions on borrowing for yield in its update to the Prudential Code.
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18 Jun 21
Local authorities commercial investment needs a change focus, to help unlock latent potential in region, says Jonathan Werran, chief executive of think tank Localis.
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11 Jun 21
A district council is planning to invest £56m in commercial property outside its boundaries this year, funded through borrowing from other local authorities.
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18 May 21
A combination of pressures from Brexit and the coronavirus pandemic could squeeze city council revenues and put more pressure on budgets, according to ratings agency Standard and Poor’s.
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11 May 21
Belfast City Council has rejected a commercial investment strategy, put forward with the aim of helping raise additional funds and finance the authority’s Covid-19 recovery.
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24 Feb 21
The government is considering whether a “system leader” could oversee local government audit in the future, after it rejected the Redmond review’s proposal of a statutory body.
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23 Feb 21
Torbay Council has become the latest authority to shelve its planned commercial investment following PWLB rules changes – scrapping £68m of its planned programme.
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19 Feb 21
The value of two retail investment properties purchased by North Somerset Council has dropped by more than £26m in the three years since they were purchased due to Covid-19.
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11 Feb 21
Leicestershire County Council says it could raise £18m of revenue each year to fund services after agreeing an £89m expansion of its commercial property portfolio.
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4 Feb 21
West Berkshire Council is to shelve the uncompleted third of its £100m commercial investment plan following the introduction of new restrictions on borrowing from the Public Works Loan Board.
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22 Jan 21
MPs have warned that the financial sustainability of some local authorities presents a “significant risk” to the government's finances, and urged the swift implementation of the Redmond review into...
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19 Jan 21
Spelthorne Borough Council’s controversial commercial investment strategy has allowed it to propose council tax freezes next year despite Covid-19 disruption, according to its finance chief.
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15 Dec 20
Spelthorne Borough Council is budgeting for an increase in income from its commercial property portfolio during the current financial year, enabling it to underspend its budget by £1.5m.
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14 Dec 20
Local authorities could be required to provide central government with extra details on their commercial property portfolios, according to a senior official.
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23 Nov 20
The financial performance of London Borough of Croydon’s commercial companies and other ventures have consistently missed forecasts outlined in their business plans, according to a review.
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11 Nov 20
An investment strategy agreed by Cotswold District Council to borrow more than four times its annual budget has been labelled deeply concerning by its opposition leader.
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4 Nov 20
Thurrock Council has taken out a £125m loan with a maturity of just two years from the Public Works Loan Board.
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28 Oct 20
Councillors at Spelthorne Borough Council have voted to give themselves more control over the authority’s property investment decisions.
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16 Oct 20
Reading Borough Council is to its delay planned commercial investment strategy, valued at £180m over the next three years, due to the Covid-19 pandemic.
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9 Oct 20
Spelthorne Borough Council has denied that its property investment strategy is unlawful after reports that auditors have raised material concerns over some of its purchases.
29 Jul 21The government has raised the prospect of statutory borrowing caps for local authorities to prevent excess risk in capital spending.
30 Jun 21An investment company set up to buy commercial property on behalf of two councils has suffered cumulative losses of more than £12.5m since it launched four years ago.
29 Jun 21Uttlesford District Council is applying for a credit rating to allow it access to a greater range of borrowing to fund its multi-million programme of out-of-borough commercial investments.
25 Jun 21Sefton Council has approved plans to borrow £800,000 over the next three years to help improve the performance of an authority-owned shopping centre.
24 Jun 21CIPFA is proposing to boost the information it provides on proposed borrowing restrictions on borrowing for yield in its update to the Prudential Code.
18 Jun 21Local authorities commercial investment needs a change focus, to help unlock latent potential in region, says Jonathan Werran, chief executive of think tank Localis.
11 Jun 21A district council is planning to invest £56m in commercial property outside its boundaries this year, funded through borrowing from other local authorities.
18 May 21A combination of pressures from Brexit and the coronavirus pandemic could squeeze city council revenues and put more pressure on budgets, according to ratings agency Standard and Poor’s.
11 May 21Belfast City Council has rejected a commercial investment strategy, put forward with the aim of helping raise additional funds and finance the authority’s Covid-19 recovery.
23 Feb 21Torbay Council has become the latest authority to shelve its planned commercial investment following PWLB rules changes – scrapping £68m of its planned programme.
19 Feb 21The value of two retail investment properties purchased by North Somerset Council has dropped by more than £26m in the three years since they were purchased due to Covid-19.
11 Feb 21Leicestershire County Council says it could raise £18m of revenue each year to fund services after agreeing an £89m expansion of its commercial property portfolio.
4 Feb 21West Berkshire Council is to shelve the uncompleted third of its £100m commercial investment plan following the introduction of new restrictions on borrowing from the Public Works Loan Board.
22 Jan 21MPs have warned that the financial sustainability of some local authorities presents a “significant risk” to the government's finances, and urged the swift implementation of the Redmond review into...
19 Jan 21Spelthorne Borough Council’s controversial commercial investment strategy has allowed it to propose council tax freezes next year despite Covid-19 disruption, according to its finance chief.
15 Dec 20Spelthorne Borough Council is budgeting for an increase in income from its commercial property portfolio during the current financial year, enabling it to underspend its budget by £1.5m.
23 Nov 20The financial performance of London Borough of Croydon’s commercial companies and other ventures have consistently missed forecasts outlined in their business plans, according to a review.
11 Nov 20An investment strategy agreed by Cotswold District Council to borrow more than four times its annual budget has been labelled deeply concerning by its opposition leader.
28 Oct 20Councillors at Spelthorne Borough Council have voted to give themselves more control over the authority’s property investment decisions.
16 Oct 20Reading Borough Council is to its delay planned commercial investment strategy, valued at £180m over the next three years, due to the Covid-19 pandemic.
