What's New?
New money sources, Photo: Pixabay, CC0Private sector and institutional lenders have been quick to react after the Treasury this week priced itself out of the long-term local government lending market.
A new era for local authority capital finance dawned this week after the Treasury increased interest rates on Public Works Loan Board (PWLB) lending by a whole percentage point – pricing the loan facility at 180 basis points above gilts.
SAVE THE DATE – LATIF NORTH
March 25th, 2020, Manchester
Council treasury investment & borrowing
Private sector players are understood to be repricing their offers in response to the news, as local authorities urgently revisit the viability of regeneration and housing capi
...Whitehall today threw a hand grenade into local authority borrowing plans by announcing a whole percentage point increase in the rate of borrowing from the Public Works Loan Board (PWLB).
Councillors in South Oxfordshire are have been ordered not to take the district’s spatial plan back to the drawing board amid warnings the move could jeopardise hundreds of millions of pounds in government infrastructure funding for the county.
The Society of District Council Treasurers has asked the Treasury to create a new Public Works Loan Board discount rate, as councils reassess the viability of their regeneration and housing schemes in light of this week’s rate rise.
This week’s Public Works Loan Board (PWLB) rate rise has boosted hopes that the UK Municipal Bonds Agency (UKMBA) can finally issue its first bond, as the organisation announced the[…]
by Tom Roberts, head of strategic investment, LGIM Real Assets The government estate is made up of hundreds of thousands of UK assets; from railways ports and prisons to hospitals[…]
Optimism bias and a culture of limited transparency led to an £11.7m overspend on a new academy school in Northamptonshire, according to an internal investigation. A report presented to Northamptonshire[…]
A London council is set to approve a loan of £110.5m to one of its wholly-owned companies to help purchase a residential block to provide investment income and house its[…]
The government is proposing to compensate councils with negative revenue support grant (RSG) in 2020/21, it has announced in a consultation on the distribution of next year’s local government finance[…]
Local areas could get more powers and cash from central government – but face government pressure to adopt unitary models, following this week’s Conservative Party conference. Speaking this week at[…]
