London Borough of Hammersmith and Fulham has cancelled a £75m fire procurement project after an internal review identified a number of “structural flaws”.
Councils lack the necessary reserves to meet the £2bn shortfall local authorities still face from the impact of Covid-19, according to the Institute for Fiscal Studies.
Councils could speed up infrastructure and affordable housing delivery by borrowing against its proposed new infrastructure levy according to the government’s consultation on planning reform.
Cornwall Council is to become the first council in England to pass on government funding and provide financial support for parish and town councils impacted by the coronavirus pandemic.
Communities secretary Robert Jenrick has promised to lobby the Treasury “very strongly” to ensure councils receive the funding they need at the Comprehensive Spending Review.
The Royal Borough of Windsor and Maidenhead has approved an action plan after a CIPFA report highlighted a lack of transparency around the financial implementation of capital schemes.
The upcoming Spending Review will be driven by speeding up decision-making through the greater use of data, according to chief secretary to the Treasury Steve Barclay.
The financial system that emerged from separation of debit and credit in the 14th century seems to be nearing the end of its useful life, says David Kauders.
Ratings agency Moody’s has warned that it could downgrade the UK’s credit rating if it fails to provide a credible debt reduction strategy following Covid-19.
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.
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.
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.
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 Royal Borough of Windsor and Maidenhead has been warned it could be forced into a section 114 notice in a CIPFA report which found a flawed process for setting reserve levels.
Spelthorne Borough Council has received 90% of its March quarter rent due on its commercial assets, despite the economic disruption caused by the coronavirus pandemic.
The UK government’s job retention scheme, aimed at saving jobs during the coronavirus pandemic, could cost up to three times the amount originally forecast, according to think-tank the Resolution...