City of York Council leader Keith Aspden has warned his council faces a £20m shortfall in funding due to rising costs in relation to the coronavirus pandemic.
Lending between councils has dropped as councils look to keep hold of cash due to concerns over the coronavirus pandemic, according to treasury adviser Arlingclose.
The government has confirmed the £500m hardship fund announced during the Budget will be used to fund council tax relief for vulnerable households affected by the coronavirus pandemic.
The Cabinet Office has decided to waive the rules on payment in advance, in a bid to help local authority suppliers stay afloat during the coronavirus pandemic.
Councils are set to receive £1.6bn of funding to help fight the coronavirus pandemic, as part of the government’s £5bn coronavirus fund announced during the Budget.
A reform of the council tax system could see a 50% decrease in payments for people in the most deprived regions of the country, says the Institute of Fiscal Studies.
City of Edinburgh Council has allocated £2m of a £7.43m award from the Scottish Government’s recent budget to tackle impacts from the coronavirus outbreak.
The Treasury has written to local authority finance officers to confirm a new discount rate for borrowing for housing spending from the Public Works Loan Board.
CIPFA’s chief executive warns that government proposals to restrict council investment in commercial property could signal a more prescriptive approach.
The government has announced plans to cut the Public Works Loan Board interest rate - but only after it has introduced measures to ban councils borrowing to invest in commercial property.
The “high quality” of the local government sector made the Municipal Bonds Agency’s first bond issuance possible despite turbulent financial markets, the agency’s chairman has told PF.
