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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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3 Nov 20
Following the pricing of a £250m bond by the London Borough of Sutton, PF speaks to David Whelan, managing director of public sector treasury at Link Group, which advised on the deal.
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3 Nov 20
A bond totalling £250m, set to be issued by a London council has been priced at 1.7% – below the rate available from the Public Works Loan Board.
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30 Oct 20
A London council is set to launch a private placement bond through a digital platform to refinance debt and help fund its capital programme for the next four years.
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23 Oct 20
Levels of reserves for councils in England dropped by £900m in 2019-2020 to £23.7bn, according to outturn figures published by the Ministry for Housing, Communities and Local Government.
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5 Oct 20
Joint ventures can allow an authority to share in some of the return from the development of their assets. But they need a solid strategic base to succeed
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7 Jul 20
Transport for London has borrowed £169m in the last two months from the Public Works Loan Board, as it looks to tackle the financial losses resulting from Covid-19.
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10 Mar 20
Local authorities dived back into Public Works Loan Board borrowing this week after the interest rate on some loans dropped below 2% following the coronavirus outbreak.
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10 Feb 20
The pooling of investment funds in the Local Government Pension Scheme has saved £155m since the method was introduced, estimates suggest.
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7 Feb 20
The maiden bond launched by the UK Municipal Bonds Agency is the first step in a sector-wide shift away from the Public Works Loan Board, local government finance figures have said.
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29 Jan 20
Kent County Council will receive a £138.9m repayment following the collapse of the Woodford fund, a reduction of 56% from the peak of its investment.
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28 Jan 20
A £30bn local government pension fund has threatened to halt investment in companies that fail to recognise the financial risks caused by climate change.
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14 Jan 20
The Public Works Loan Board interest rate hike caused “dismay” among councils, according to Sarah Pickup deputy chief executive of the Local Government Association.
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10 Jan 20
Kent County Council will have to wait a further 10 days before it receives its first payment from the stricken Woodford Equity Income Fund, it has been announced.
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8 Jan 20
West Berkshire Council is considering creating a “climate change bond” to fund green projects.
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8 Jan 20
South Somerset District Council has struck a commercial property deal worth nearly £10m for an office block 150 miles away.
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6 Dec 19
Treasury management takes a new turn as local authorities knit investment strategy with local growth, social and regeneration ambitions. Karen Day reports.
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25 Nov 19
University staff across 60 institutions have begun eight days of strikes over changes to their pensions and work conditions.
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8 Nov 19
Peter Hetherington looks at whether county councils have missed a trick in failing to exploit agricultural land that could represent a solid, long-term investment.
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6 Nov 19
Councils could be subject to greater regulation if the sector continues to make controversial commercial property investments, CIPFA’s chief executive has warned.
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5 Nov 19
A Canadian public sector pension fund will plough £250m into a new property development for tech companies in Cambridge, UK, it has announced.
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17 Oct 19
The Treasury’s increase of interest rates for the Public Works Loan Board is “credit negative” for local authorities, a ratings agency has said.
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17 Oct 19
Pension tax relief will cost the government nearly £40bn in 2019-20 - up more than £2bn on last year, HMRC figures have shown.
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15 Oct 19
The troubled Woodford fund is to be wound up, leaving Kent County Council waiting longer than expected for repayments.
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10 Oct 19
CIPFA has launched its first Financial Management Code for nearly 15 years.