External auditors for Spelthorne Borough Council have issued a rare public interest report amid concerns the authority’s historical commercial investment breached local government regulations.
Thurrock Council’s concentrated investment strategy was a failing that resulted in a £470m budget black hole, according to the official turnaround team.
Failed investments have put Thurrock Council in a grave financial position and facing a deficit of nearly half a billion pounds this year, the commissioners sent in to sort out the authority’s...
A solar investment company of which Thurrock Council has been named as a “major creditor” has entered into administration in a move the authority has said could help to reduce its high level of debt...
Low investor confidence in the UK and the need to direct domestic money to development projects mean the UK Infrastructure Bank wants to work “much harder” to bring sources of public finance together...
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.
LGPS funds should keep an eye on developments as the country, and the world, move towards net zero, writes Iain Campbell, senior investment consultant at Hymans Robertson.
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.
An attempt to calm the market reaction to the government’s tax cut announcements illustrates the “bind” facing the Bank of England, an analyst has said, as the central bank commits to buying UK...
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...
Local authorities have been urged by an external auditor to apply effective risk management to their subsidiary companies and other commercial activities to safeguard against financial risks.
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.
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...
The government is seeking views on whether to retain a statutory override allowing local authorities to exclude changes to pooled investment values from revenue accounts.
Senior consultant at CIPFA Mark Williams clears up what the Prudential Code for Capital Finance in Local Authorities means for councils, and why the institute updated the framework last year.
The Bank of England has pushed interest rates up by their biggest jump in 27 years, predicting further rampant inflation and a coming economic recession, and analysts think there are...
The government has closed a loophole that might have allowed councils to use capital receipts to fund revenue costs relating to workforce and service reforms while retaining some kind of ownership of...
Redcar and Cleveland Borough Council is set to terminate a private finance initiative contract early to help slim down its office portfolio and deliver savings.