Financial market instability caused by the government’s mini-budget has created an opportunity for the Local Government Pension Scheme to boost investment, with funds generally weathering the storm.
Financial market instability caused by the government’s mini-budget has pushed Public Works Loan Board borrowing rates up to their highest point in a decade, piling more pressure on council finances.
Councils could need to shrink projects they have submitted to the Levelling Up Fund because the government has refused to adjust the pot for inflation, a senior minister has said.
The government will need to spend £6bn over the next three years to help implement care reforms or risk the sector falling into a “state of collapse”, the author of an independent report has warned.
Stormont’s departmental spending will exceed UK government funding by £660m in 2022-23 putting the devolved administration’s finances at risk, amid the lack of a formal budget, according to finance...
Shropshire Council must “radically change” its passive approach to ensure it can meet the financial challenges it faces, a peer review from the Local Government Association has found.
Leicester City Council is set to place three office buildings for sale or lease after the rise of hybrid working left the properties surplus to requirements.
Levelling up secretary Simon Clarke has fired a warning signal to councils that there will be “consequences” for perceived mismanagement following a series of high-profile government interventions.
The soaring cost of living combined with a decade of austerity could see up to a sixth of English councils fully deplete their reserves in 2023-24 without substantial spending cuts, experts have...
Crisis-hit Thurrock Council has been given permission by the government to borrow almost £840m from the Public Works Loan Board to repay finance from other local authorities.
The government’s choice to not go ahead with a Spending Review this year means departments will need to make difficult decisions on services as inflation erodes their budgets, experts have warned.
Government-appointed commissioners at Slough Borough Council have questioned the authority’s decision to purchase investment properties outside its boundaries, as it prepares to sell assets for a...
The Treasury has confirmed that the government will stick to the current funding settlement for departments, despite concerns over the impact of inflation on budgets.
The government’s package of tax cuts aimed at boosting economic activity are unlikely to stimulate enough growth to pay for themselves, and could lead to future tax rises or spending cuts, economists...
Scottish ministers have been urged to reprioritise funding to avoid the need for some services to make “disproportionate” cuts, as delegates prepare to meet at Public Finance Live Scotland.
New chancellor Kwasi Kwarteng’s first ‘fiscal event’ to provide more details on the energy support package will take place on 23 September, PF understands.
Oxford City Council is set to lease its main office and move staff to its town hall, in a bid to deliver additional income and mitigate expensive maintenance costs.
The government’s energy cap is likely to lower inflation in the short term, but one expert warned that it might not yield longer-term savings on servicing the government’s large stock of interest-...
Thurrock Council could be forced to make £2m of cuts this year despite using millions of pounds from its reserves, amid a 10% drop in investment income.
New prime minister Liz Truss has been urged by council leaders to stand by her pledge to allocate more funding to social care as inflation bears down on their authorities’ budgets.
The government’s plan to temporarily cap energy bills for households and businesses will likely lead to higher borrowing and increased pressure on public finances, experts have said.
Scottish ministers have tabled around £500m of cuts to planned revenue and capital spending due to “enormous strains” on the devolved administration’s 2022-23 budget.
Bournemouth, Christchurch and Poole Council has received minded approval from the government over £20m of exceptional financial support in 2022-23 amid “significant concerns” over the authority’s...
