Basingstoke and Deane Borough Council and Hampshire County Council have signed a contract with developer Urban and Civic to deliver a £1.2bn housing project.
Changes to the current Public Works Loan Boards lending terms should avoid “unintended consequences” that harm regeneration projects, CIPFA has warned.
Tramlink, a Private Finance Initiative which runs Nottingham City Council’s tram network is losing £404,000 a week as a result of Covid-19, the authority has revealed.
Kirklees Council has agreed to underwrite up to £4m of losses to ensure the medium and long-term future of its leisure services provider Kirklees Active Leisure.
Savings made by private sector firms and employees during lockdown could help pay for tax rises to cover the repayment of government Covid-19 debt, according to the National Institute of Economic and...
Ratings agency Standard and Poor’s has downgraded the credit rating of an NHS hospital Private Finance Initiative company after identifying “strained relationships” with its commissioning trust.
The UK’s economic recovery from Covid-19 may not take place until late-2024, as hopes of a V-shaped recovery “diminish”, according to economists at advisory firm EY.
Additional grant funding of around £10bn will be required if the government is to meeting social housing demand, according to the Housing, Communities and Local Government Committee.
Local government secretary Robert Jenrick has hinted that the government could introduce council tax and business rate reimbursement schemes to help local authorities deal with the financial...
Bank of England chief economist Andy Haldane has suggested negative interest rates could be implemented if further negative shocks are felt in the economy.
The Institute for Fiscal Studies has warned the comprehensive spending review could lead to less money for spending departments than was trailed in March’s Budget, due to the Covid-19 pandemic.
Local authority borrowing continued to rise in June to £3bn, £100m more than in May, and ten times higher than the figure for June 2019, according to figures from the Office for National Statistics.
The government has been criticised for its lack of understanding of the effectiveness of tax reliefs, as after a report from the Public Accounts Committee said it knew "too little" about the schemes.
The government may need to rethink its fiscal policy strategy to account for economic shocks happening more frequently than previously assumed, according to the Office for Budget Responsibility.
Thurrock Council has rejected concerns raised in the Financial Times over its investment strategy, which has seen it borrow more than £1bn from other councils.
Moving away from current budgeting principles to ease the pressures of the Covid-19 response would be a retrograde step for local government, writes Rob Whiteman.
The government will need a plan to manage its Covid-related debt in place by the autumn, according to former permanent secretary to the Treasury, Lord Macpherson.
Government borrowing in response to Covid-19 could rise to £500bn in the wake of chancellor Rishi Sunak’s economic package announced yesterday, according to the Institute for Fiscal Studies.
The Department for Health and Social Care needs to devise a capital strategy to address backlog in NHS maintenance work post-Covid-19, a report from the Public Accounts Committee has warned.
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.
Council investment in land and buildings has dropped for the first time since 2011-12, according to data from the Ministry for Housing, Communities and Local Government.
Secretary of state Robert Jenrick has told local authorities he will “try his best” to secure more government funding for councils if it is needed as councils struggle to deal with financial burdens...
