Chancellor Rishi Sunak has announced planned tax measures – phased in over the next four years – which will see the UK’s tax burden rise to the highest level since the late 1960s.
The newly announced UK Infrastructure Bank will offer £4bn of loan to authorities at the same interest cost as local infrastructure rates formerly offered through the Public Works Loan Board.
A new Treasury campus in Darlington, the location of eight ‘freeports’ and details of how local authorities can bid for a £4.8bn infrastructure fund are among a series of Budget measures aimed at ‘...
Budget measures imply the government will have borrowed an ‘unprecedented’ £570bn over this financial year and next, according to the Office for Budget Responsibility.
Council estimates for 2020-21 cost pressures resulting from Covid-19 have risen by 3.5% over the past month, according to statistics from the Ministry for Housing, Communities and Local Government.
The 2021 Budget will see the launch of the UK’s first green bond, more post-Covid-19 support and a new anti-fraud agency– PF rounds up what announcements the chancellor has in store.
Councils will gain access to £4bn worth of loans for capital projects from the new UK Infrastructure Bank - although experts have raised questions about the lending rate.
Chancellor Rishi Sunak should not increase taxes in this week’s Budget, as they could undermine the Covid-19 recovery, the Treasury Select Committee has warned.
Reforms and increases to the tax base which could raise up to £55bn a year should be implemented as part of the upcoming Budget, according to a leading think tank.
The Treasury has completed the sale of Bradford and Bingley and NRAM, formerly Northern Rock, for £5bn, after the banks were brought under government control during the financial crisis.
Leeds City Council has approved its budget for 2021-22, which will usher in £87.5m worth of budget reductions alongside redundancies and a 4.99% rise in council tax.
Oxfordshire County Council has paid out more than £1.6m to a parking enforcement contractor that lost its contract with the council following a breach of procurement regulations, it has emerged.
A High Court judge has thrown-out a legal challenge tabled by eight local authorities against lender Barclays Bank over historic Lender Option Borrower Option loans.
The UK government refused a request from Scottish finance secretary Kate Forbes for £1.7bn of additional funding to support the Holyrood administration’s Budget for 2021-22, it has emerged.
The government is considering whether a “system leader” could oversee local government audit in the future, after it rejected the Redmond review’s proposal of a statutory body.
Torbay Council has become the latest authority to shelve its planned commercial investment following PWLB rules changes – scrapping £68m of its planned programme.
A rise in corporation tax and extensions to the Universal Credit uplift and furlough scheme are among potential government Budget moves being reported in the national press. PF rounds up the rumours.
UK councils’ efforts to tackle grant fraud are being hampered by the reallocation of resources to support efforts to respond to Covid-19, according to analysis from CIPFA.
Experienced local government finance officer Chris Buss is joining London Borough of Croydon as director of finance on an interim basis, after the resignation of current post holder Lisa Taylor.
The government has launched a consultation on extending the use of shared data collected by the National Fraud Initiative in a move it says could save the public sector £10m a year.
The Department for Environment, Food and Rural Affairs was unable to provide evidence that the value of flood barriers and other infrastructure was not misstated in its 2019-20 accounts, according to...
