A council in south east England has discussed its high debt levels with the government, amid concerns it could fall foul of proposed capital risk interventions.
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,...
Councils received £700m more than they spent last year, down 90% on the 2021-22 surplus, while the overall public sector deficit fell by more than a half.
The London Borough of Newham has reached an out-of-court settlement with Barclays Bank over alleged rigging of borrowing rates on lender option borrower option (LOBO) loans, a deal...
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.
Councils with PFI contracts need to consider a number of implications resulting from the transition to a new benchmark interest rate, says David Moore.
An over-budget highways project by Liverpool City Council has suffered a double whammy after its developer entered administration and budget estimates soared.
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.
Government borrowing in the financial year to date is around 25% lower than previously forecast, as the Covid-19 recovery continues, according to the Office for National Statistics.
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.
A city council will take on £107m of debt to repay £65m of 'lender option, borrower option' loans, but still expects to save £18m over the life of the debt.
The UK’s debt repayments will be favourable, despite risks stemming from an elevated deficit and future Brexit-related shocks, according to ratings agency Moody’s.
Leicestershire County Council will ask its schools to transfer £2m of funding to help meet a burgeoning special educational needs deficit, which presents a “significant risk” to the authority.
Covid-19 has only increased the need for governments around the world to take a consistent approach to reporting their financial balance sheets, says Gillian Fawcett.
A new package of funding and financing flexibilities for local authorities in Scotland will allow councils to use capital receipts to meet funding pressures.
Imposing tax increases too early could “stifle” the UK’s economic recovery from the coronavirus pandemic, a report from the Treasury Select Committee has warned.
The financial system that emerged from separation of debit and credit in the 14th century seems to be nearing the end of its useful life, says David Kauders.
