Local authority borrowing
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19 May 22The government is seeking assurances that a borough council in the south of England can manage its high debt levels without the need for intervention. -
17 May 22A 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. -
12 May 22CIPFA has welcomed government proposals to take greater intervention powers over council finances, saying they could help identify potential problems at an earlier stage. -
11 May 22The local government secretary will get new powers to direct asset sales and borrowing levels at councils deemed to be at financial risk, under a clause in this week's Levelling Up Bill. -
11 May 22Local 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,... -
27 Apr 22Shropshire Council is set to scale back its capital spending plans by more than £100m by 2025-26 amid concerns over debt servicing costs. -
26 Apr 22Councils 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. -
15 Feb 22An Essex council is set to borrow up to £100m to lend to local businesses that cannot access mainstream lending for projects supporting regeneration within the borough. -
19 Nov 21A 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. -
18 Nov 21Proposed 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.
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28 Sep 21Slough Borough Council is seeking to extend short-term borrowing from other local authorities, to help ease its financial pressures. -
17 Jun 21Bank of England protections are available to help protect local authorities lending to their peers, according to a senior advisor at the bank. -
1 Feb 21Richard 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.
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1 Feb 21CIPFA has launched a consultation on proposed changes to the Prudential Code in order to strengthen provisions restricting borrowing for yield. -
19 Nov 20An Essex council says it has been forced to change its borrowing strategy because other councils are unwilling to lend to it after negative press coverage over its investments. -
13 Nov 20Ealing Council has approved plans to borrow more than £390m over 50 years to on-lend to its housing company to build more than 1,300 affordable homes over the next six years. -
14 Sep 20Local-authority-to-local-authority borrowing continues to rise, as short-term borrowing rates dropped to 0% last week, according to local government treasury advisors Arlingclose.
