-
4 Nov 20
Thurrock Council has taken out a £125m loan with a maturity of just two years from the Public Works Loan Board.
-
4 Nov 20
Local government pension schemes in Lincolnshire, South Yorkshire and Tyne and Wear have invested a combined £97m into a ten-year residential investment fund.
-
4 Nov 20
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.
-
3 Nov 20
The ongoing pandemic disruption combined with Brexit could overwhelm local authorities and devolved administrations, according to the Institute for Government.
-
3 Nov 20
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.
-
3 Nov 20
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.
-
3 Nov 20
A bond totalling £250m, set to be issued by a London council has been priced at 1.7% – below the rate available from the Public Works Loan Board.
-
2 Nov 20
The government has launched a 'rapid review' into governance at Nottingham City Council, its second review of this kind announced in under a week.
-
2 Nov 20
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.
-
2 Nov 20
Transport for London has agreed a second bailout with the government worth up to £1.8bn, to help keep services running through Covid-19.
-
2 Nov 20
The upcoming Comprehensive Spending Review must allocate funding to address record public service backlogs, CIPFA and the Institute for Government have warned.
-
30 Oct 20
Audit firms Mazars and Grant Thornton have been asked to implement quality action plans after the Financial Reporting Council was critical of audit quality.
-
30 Oct 20
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.
-
30 Oct 20
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.
-
30 Oct 20
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.
-
30 Oct 20
“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...
-
29 Oct 20
Councils face a massive rise in business rates appeals, which have reached around 1,000 a day as a result of Covid-19, according to real estate firm Colliers.
-
29 Oct 20
Local government minister Luke Hall has asked councils to apply the £95,000 exit payment cap to pension schemes before regulations are formally introduced – a move one lawyer called a “load of...
-
29 Oct 20
The government has announced a rapid review into governance at the London Borough following the publication of a “damning” public interest report.
-
28 Oct 20
Scottish GDP fell by 19.4% during the second quarter of this year, according to statistics released by the Scottish Government.
-
28 Oct 20
Councillors at Spelthorne Borough Council have voted to give themselves more control over the authority’s property investment decisions.
-
27 Oct 20
Three local government organisations have written to the government threatening a legal challenge to changes to local government exit payments.
-
27 Oct 20
Worthing Borough Council is set to approve a housing scheme joint venture with housing association Vivid, which would see the council invest £12.5m.
-
27 Oct 20
MPs will assess the impact of a single-year spending review on councils’ long-term delivery of services as part of an inquiry into the spending review and local government finance.
-
26 Oct 20
London Borough of Croydon has been accused of "corporate blindness” over its financial position in a rare public interest report compiled by audit firm Grant Thornton.