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13 May 22
An English city council is restructuring a debt owed by its landmark seafront attraction to ensure it is repaid “as quickly as possible” following three years of missed payments, but has delayed a...
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23 Nov 21
Suffolk County Council has used Public Works Loan Board borrowing to repay £30m of ‘lender option, borrower option’ loans, but expects to deliver real terms savings of £6.4m.
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5 Nov 21
Borrowing from the Public Works Loan Board declined sharply in October, as lending rates rose, dulling interest in the facility.
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12 Oct 21
Nottinghamshire County Council will need to borrow a further £70m to deliver capital projects and refinance loans, pushing its total debt close to £600m.
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1 Oct 21
Norfolk County Council is set to use community infrastructure levy income to finance debt repayments on new loans to help meet a £46m gap in its school building programme.
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9 Sep 21
A government policy paper proposing limits on some UK local authorities’ borrowing has received a mixed reception from voices within the sector.
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3 Sep 21
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.
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11 Aug 21
The value of Spelthorne Borough Council’s commercial portfolio shrank by 5% last year, as Covid-19 hit property prices.
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2 Jul 21
Warwickshire County Council has approved plans to borrow up to £130m over the next five years, which it intends to pass on to businesses to help their long-term recovery from Covid-19.
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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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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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17 Feb 21
Reading Borough Council has scrapped plans to add to its commercial property portfolio due to Covid-19 and changes to Public Works Loan Board lending rules.
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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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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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5 Jan 21
Local authorities borrowed £252m from the Public Works Loan Board in December, the highest sum borrowed since April, following November’s one percentage point drop in borrowing rate.
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21 Dec 20
This year has been one of the most demanding for the public sector in living memory. PF lists the ten biggest stories from the past 12 months.
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18 Dec 20
The recent restrictions imposed on borrowing from the Public Works Loan Board will make budget management in the medium term more challenging, ratings agency Moody’s has said.
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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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1 Dec 20
The UK Municipal Bonds Agency has withdrawn a planned bond issuance with Warrington Borough Council after chancellor Rishi Sunak changed the terms of borrowing from the Public Works Loan Board.
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27 Nov 20
Reforms to the system of accessing Public Works Loan Board borrowing increase the importance of good decision-making by council section 151 officers, says David Blake.
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25 Nov 20
The government has reversed its October 2019 hike in the Public Works Loan Board borrowing rate and introduced a ‘ban’ on councils borrowing to raise revenue from commercial property.
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20 Nov 20
London Borough of Bexley last week announced it is in discussions with Whitehall officials over an application to use capital borrowing to fund services. Council leader Teresa O'Neill and director of...
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19 Nov 20
The amount of money owed by local authorities to the Public Works Loan Board fell for the first time in almost four years during the second quarter of 2020-21.
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19 Nov 20
An 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 May 22An English city council is restructuring a debt owed by its landmark seafront attraction to ensure it is repaid “as quickly as possible” following three years of missed payments, but has delayed a...
23 Nov 21Suffolk County Council has used Public Works Loan Board borrowing to repay £30m of ‘lender option, borrower option’ loans, but expects to deliver real terms savings of £6.4m.
12 Oct 21Nottinghamshire County Council will need to borrow a further £70m to deliver capital projects and refinance loans, pushing its total debt close to £600m.
1 Oct 21Norfolk County Council is set to use community infrastructure levy income to finance debt repayments on new loans to help meet a £46m gap in its school building programme.
9 Sep 21A government policy paper proposing limits on some UK local authorities’ borrowing has received a mixed reception from voices within the sector.
3 Sep 21Local 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.
11 Aug 21The value of Spelthorne Borough Council’s commercial portfolio shrank by 5% last year, as Covid-19 hit property prices.
2 Jul 21Warwickshire County Council has approved plans to borrow up to £130m over the next five years, which it intends to pass on to businesses to help their long-term recovery from Covid-19.
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.
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.
17 Feb 21Reading Borough Council has scrapped plans to add to its commercial property portfolio due to Covid-19 and changes to Public Works Loan Board lending rules.
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.
5 Jan 21Local authorities borrowed £252m from the Public Works Loan Board in December, the highest sum borrowed since April, following November’s one percentage point drop in borrowing rate.
21 Dec 20This year has been one of the most demanding for the public sector in living memory. PF lists the ten biggest stories from the past 12 months.
18 Dec 20The recent restrictions imposed on borrowing from the Public Works Loan Board will make budget management in the medium term more challenging, ratings agency Moody’s has said.
14 Dec 20Local authorities could be required to provide central government with extra details on their commercial property portfolios, according to a senior official.
27 Nov 20Reforms to the system of accessing Public Works Loan Board borrowing increase the importance of good decision-making by council section 151 officers, says David Blake.
25 Nov 20The government has reversed its October 2019 hike in the Public Works Loan Board borrowing rate and introduced a ‘ban’ on councils borrowing to raise revenue from commercial property.
20 Nov 20London Borough of Bexley last week announced it is in discussions with Whitehall officials over an application to use capital borrowing to fund services. Council leader Teresa O'Neill and director of...
19 Nov 20The amount of money owed by local authorities to the Public Works Loan Board fell for the first time in almost four years during the second quarter of 2020-21.
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.
