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.
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.
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.
MSPs have launched an inquiry into Scottish local government finances aimed at working out whether Covid-19 will lead to a “new normal” in the way services are delivered.
Central government has failed to give local authorities enough clarity over long-term funding during the coronavirus pandemic, according to a report from the Public Accounts Committee.
The government is asking for views on the potential of a capital values tax or online services tax to replace business rates in its comprehensive review of the tax.
Delayed local government audits are to blame for the Treasury’s slow production of the Whole of Government Accounts, according to the National Audit Office.
The Covid-19 response has brought to the surface a new set of tensions to bedevil central and local government relations, which may imperil recovery efforts
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.
Councils borrowed £875m for housing projects in March from the Public Works Loan Board after the introduction of a special rate for housing revenue account projects in the Budget.
Birmingham City Council has received the biggest allocation from the government’s latest £500m pot to support councils with spending related to Covid-19.
Councils have demonstrated their value like never before in helping tackle the Covid-19 pandemic. Finance departments may not be directly on the frontline, but their role ensuring that public money...
Luton Borough Council has agreed a “horrendous” package of spending cuts after the airport operator it owns declared it could not make an expected £16m dividend payment due to Covid-19.
The government is “blind” to the extreme risks some councils have exposed themselves to through their commercial investments, a report by the Public Accounts Committee has claimed.
As we design the way the NHS and wider public sector will work in the future, we should remember the collaborative successes achieved during the pandemic, argues the Healthcare Financial Management...
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.
Local government minister Simon Clarke said the government’s forthcoming devolution white paper will help the country’s recovery from the coronavirus pandemic.
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...
