Chancellor Rishi Sunak has announced the UK is set to issue its first sovereign green bond next year, in a bid to help meet the government’s 2050 carbon net zero target.
Councils in England are set to receive an additional £170m in government funding following a government U-turn over additional support for low-income families this winter.
Capital receipts for councils in England dropped by more than 30% last year to £2.8bn, the lowest level in the last five years, according to government statistics.
Local Government Pension Scheme funds in England and Wales reported a negative cashflow position again last year, as schemes paid out £900m more in benefits than they received, according to...
Manchester City Council is set to fundamentally review its size and structure, warning that efficiency savings cannot not cover a forecast £135m funding gap next year.
The government has announced it is extending the Coronavirus Job Retention scheme for a further four months, alongside increased support for self-employed workers.
Local government pension schemes in Lincolnshire, South Yorkshire and Tyne and Wear have invested a combined £97m into a ten-year residential investment fund.
Ipswich Borough Council has approved plans to use all but £50,000 of its usable reserves above its legal buffer by March 2024, to help offset future Covid-19 pressures.
The ongoing pandemic disruption combined with Brexit could overwhelm local authorities and devolved administrations, according to the Institute for Government.
Following the pricing of a £250m bond by the London Borough of Sutton, PF speaks to David Whelan, managing director of public sector treasury at Link Group, which advised on the deal.
The Universities Superannuation Scheme deficit has widened to £21.5bn, more than 50% higher than the previous £13bn estimate in July, according to the Institute for Fiscal Studies.
The monthly financial impact of Covid-19 on councils in England has fallen below £1bn for the first time since the start of the crisis, running at 60% of the £1.5bn peaks in April and May.
The upcoming Comprehensive Spending Review must allocate funding to address record public service backlogs, CIPFA and the Institute for Government have warned.
Audit firms Mazars and Grant Thornton have been asked to implement quality action plans after the Financial Reporting Council was critical of audit quality.
A London council is set to launch a private placement bond through a digital platform to refinance debt and help fund its capital programme for the next four years.
Council tax support is expected to cost councils an additional £586m this year, 7% more than the £500m allocated through a dedicated fund announced in March, according to the LGA.
London Borough of Newham is to loan a further £4m to its own development company, after a leisure centre operator pulled out of a development project due to Covid-19.
“Essential” support for companies and workers in the UK must continue if the economy is to recover from Covid-19 and meet the challenges of leaving the EU customs union and single market, the IMF has...
