Proposed cuts to government funding for public transport body Transport for the North would “undermine levelling-up” and put planned improvement works at risk, according to the group’s finance chief.
The Bank of England needs to improve its own understanding of its quantitative easing programme to improve its effectiveness, according to the bank’s internal watchdog.
A 'back to the future' approach for local government audit is not realistic, according to Steve Freer, chairman of audit oversight body Public Sector Audit Appointments.
The Treasury has confirmed that its Dormant Assets Scheme is to be expanded to cover accounts in insurance, pensions, investment, wealth management and securities sectors.
Somerset County Council is to write to the prime minister Boris Johnson refuting claims by a county MP that the authority incorrectly used Covid-19 grant funding to balance its books.
The value of government contracts put out to tender last year fell 8% to £101bn, despite large Covid-19 deals, according to government contracts analysis firm Tussell.
Councillors at Lincolnshire County Council have rejected the option of using the 3% increase to the adult social care precept next year which was announced during the local government settlement.
The Ministry of Justice failed to meet either of its financial management targets outlined in the 2015 Spending Review, according to the National Audit Office.
Local authorities borrowed £252m from the Public Works Loan Board in December, the highest sum borrowed since April, following November’s one percentage point drop in borrowing rate.
Chancellor Rishi Sunak has announced a grant funding package worth up to £4.6bn to be allocated by councils, to help keep businesses in Britain afloat following the third national lockdown.
The Welsh Government has proposed a one percentage point increase in its residential land transaction tax, the successor to stamp duty land tax, to help “support housing priorities”.
Core funding for councils in England is set to be 3% lower in real terms per head next year than in 2015-2016, according to the Institute for Fiscal Studies.
Merton Council plans to wind up its wholly owned housing company Merantun Development Ltd, after the company’s business case was deemed “no longer viable”.
