A council granted a capitalisation direction in March has warned it could be forced to deplete its usable reserves down to “unsustainable levels” to help meet an £11m funding gap.
More than half of English councils could be at risk of financial failure by 2023 if the Spending Review merely maintains funding levels, a report from financial adviser Grant Thornton has found.
The financial performance of London Borough of Croydon’s commercial companies and other ventures have consistently missed forecasts outlined in their business plans, according to a review.
The government borrowed a record £214bn between April and October – although the figure was £77bn less than projections by the Office for Budget Responsibility.
The amount of money owed by local authorities to the Public Works Loan Board fell for the first time in almost four years during the second quarter of 2020-21.
An Essex council says it has been forced to change its borrowing strategy because other councils are unwilling to lend to it after negative press coverage over its investments.
Monetary policy will attempt to combat long-term scarring to UK GDP from Covid-19 forecast at £40bn a year, according to a deputy governor of the Bank of England.
The government failed to meet standards of transparency on its emergency Covid-19 procurement, according to an investigation by the National Audit Office.
A Scottish council has launched a 50/50 joint venture energy company with a Swedish state-owned energy firm to supply heating to a new town on the edge of Edinburgh.
The government is set to provide an update on progress towards reforming the social care system “following the forthcoming Spending Review”, it has said.
The government has launched a bidding process to create at least seven ‘freeports’ in England – promising host councils the ability to retain business rates growth for 25 years.
The Local Government Association has launched an investigation into whether disciplinary action should be taken in relation to senior management actions at financially-stricken London Borough of...
Almost two-thirds of council asset managers think their organisation will be able to reduce office floorspace by more than a quarter when the Covid-19 pandemic is over.
Ealing Council has approved plans to borrow more than £390m over 50 years to on-lend to its housing company to build more than 1,300 affordable homes over the next six years.
Section 151 officers face a 'tipping point’ requiring tough decisions on whether to follow London Borough of Croydon in issuing a section 114 notice, CIPFA chief executive Rob Whiteman has told MPs.
The UK government has been urged to consider moving capital gains tax rates in line with income tax levels, which could raise an additional £14bn annually, according to the Office of Tax...
Around 80% of county and unitary authorities are expected to make cuts next year in order to set a balanced budget, according to a survey from the County Councils Network.
Croydon Council has issued a section 114 notice banning all non-essential spending, due to the “severe ongoing financial challenges” facing the authority.
An investment strategy agreed by Cotswold District Council to borrow more than four times its annual budget has been labelled deeply concerning by its opposition leader.
A 25% increase in audit fee variation rates for 2020-2021 is being proposed by the Public Sector Audit Appointments, following recommendations from the Redmond Review.
