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 ...
Government proposals to limit commercial investment by local authorities, including the potential re-introduction of borrowing caps, are credit positive for the sector, according to ratings...
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.
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.
CIPFA is proposing to boost the information it provides on proposed borrowing restrictions on borrowing for yield in its update to the Prudential Code.
Local authorities commercial investment needs a change focus, to help unlock latent potential in region, says Jonathan Werran, chief executive of think tank Localis.
A district council is planning to invest £56m in commercial property outside its boundaries this year, funded through borrowing from other local authorities.
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.
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.
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.
Torbay Council has become the latest authority to shelve its planned commercial investment following PWLB rules changes – scrapping £68m of its planned programme.
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.
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.
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.
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...
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.
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.
Local authorities could be required to provide central government with extra details on their commercial property portfolios, according to a senior official.
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.
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.
