• Home
  • About
  • Subscribe
  • LATIF
  • Conferences
  • Dashboard
  • Edit My Profile
  • Log In
  • Logout
  • Register
  • Edit this post

Room 151

  • 151 BRIEF

    What's New?

  • John Turnbull elected president of the SLT

    May 12, 2022

  • Pension pool identifies biodiversity as a priority

    May 11, 2022

  • TfL latest to face credit-rating downgrade by Moody’s

    May 10, 2022

  • Government proposes ‘fairer, more accurate’ business rates system

    May 10, 2022

  • Queen’s Speech confirms planning reforms

    May 10, 2022

  • 18,000 affordable houses lost through ‘permitted development’

    May 9, 2022

  • Treasury
  • Technical
  • Funding
  • Resources
  • LGPS
  • Development
  • 151 News
  • Blogs
    • David Green
    • Agent 151
    • Dan Bates
    • Richard Harbord
    • Stephen Sheen
    • James Bevan
    • Steve Bishop
    • Cllr John Clancy
    • David Crum
    • Graham Liddell
    • Ian O’Donnell
    • Jackie Shute
  • Interviews
  • Briefs

News Roundup: Burnley outsources, Barnet rent, Avon hedge investment, Sunderland LABV

0
  • by Editor
  • in 151 News
  • — 13 Nov, 2014

Burnley opts for large-scale outsourcing
Burnley Borough Council has launched a tender seeking a single partner for a massive outsourcing tender for backroom services. The deal, which could be worth up to £118m over 10 years if neighbouring councils get involved, covers customer contact, environmental health and licensing, payroll and payments, ICT, benefits and revenue administration, property and facilities management, plus strategic management services. It is aimed at making savings of 15% for the council.

Legal poser for Barnet rent plans
Barnet Council is proposing to raise rental levels for its council home tenants to 80% of average market rent. The council is consulting on the plan which it says would raise £550,000 for every 1% increase. It plans to spend the cash raised on building more homes. But lawyers have raised doubts about whether it would be legal to raise rents to this level for residents with secure tenancies.

Avon seeks hedge fund manager
The Avon Pension Fund, administered by Bath and North East Somerset Council, has published a tender document seeking an investment manager to set-up, implement and manage a diversified portfolio of hedge funds. The portfolio will equate to roughly 5% of the fund’s overall assets, or approximately £165m at current levels.

Gloucester set to join shared legal services team
Gloucester City Council has agreed to join a joint legal services team formed by councils in Tewkesbury and Cheltenham. A report approved by the council’s cabinet said that the council’s legal service needs to deliver £50,000 of savings and that this would “best be achieved through entering into a partnership agreement”. The One Legal service was formed in 2009, and Gloucester will now join, subject to a business case being prepared.

Sunderland signs off LABV
Sunderland City Council has signed a deal to create a local asset backed vehicle with contractor Carillion to undertake £100m of regeneration. The joint venture, which will be named Siglion, has appointed consultant Igloo Regeneration to provide development and asset management services. The council will transfer an investment portfolio of industrial, retail and offices into the new company, and will share in the profits from redevelopment.

£2bn tobacco investment by funds
Local authority pension funds have invested almost £2bn in tobacco firms, according to a request under the Freedom of Information Act. The figures, published by the Independent on Sunday, showed West Yorkshire’s fund was the largest investor, with shares worth £186m, followed by the London Borough of Barnet, with £116m.  John Middleton, policy head at the Faculty of Public Health, said: “These amount to blood money investments. They are simply incompatible with the role local authorities now have in assuring the health of the populations they serve.”

Council launches solar investment scheme
Cannock Chase Council has launched a community share offer to put solar panels on the roofs of properties it owns. The project is looking to raise up to £1m to install the panels on bungalows owned by the authority. Investors are being offered a return estimated at 7% for 20 years, with a minimum investment of just £100.

Report joins devolution bandwagon
A commission into growth in non-metropolitan areas has joined the chorus of voices calling for a more devolved fiscal system. In an interim report released this week, it said that its “emerging view” was that more power over local taxes should be given to councils, along with a bolder arrangement for retaining business rates revenue growth locally.

Share

You may also like...

  • CIPFA under pressure to publish fraud hub report 26th Apr, 2022
  • McCloud consultation ends with “greater security” for LGPS members 4th Mar, 2021
  • Abolition of section 106 agreements ‘threat to local prioritisation’ 5th May, 2022
  • Jackie Weaver calls for more ‘hyper-localism’ to revitalise local government 9th Feb, 2022

Leave a Reply Cancel reply

You must be logged in to post a comment.

  • Register to become a Room151 user

  • Latest tweets

    Room151 4 days ago

    ‘Urgent consultation’ issued in response to continuing audit delays: CIPFA and the Local Authority Scotland Accounts Advisory Committee (LASAAC) have announced another “urgent consultation” to consider proposals to address the latest issue that has led… dlvr.it/SQJ0kV pic.twitter.com/s6vw0bnGXO

    Room151 4 days ago

    Bags of capacity – now to housing delivery: HRAs have been freed up and councils are starting to invest, but some remain cautious, writes Steve Partridge. He suggests that a minimum of £10bn of additional borrowing could be[...] dlvr.it/SQDvxk pic.twitter.com/yZmoWzHv6U

    Room151 4 days ago

    Bags of capacity – now to housing delivery room151.co.uk/treasury/bags-…

    Room151 5 days ago

    To Michael Gove: a modest proposal: Conrad Hall has written an open letter to the levelling up secretary suggesting an unusual (and tongue-in-cheek) proposal to help councils predict next year’s government grant. Dear Secretary of State,[...] dlvr.it/SQ9GpX pic.twitter.com/mSX1xgeL8a

    Room151 6 days ago

    Queen’s Speech: an ambitious plan hampered by omissions: Richard Harbord examines the impact of the government’s legislative proposals on councils, and concludes that local authorities expect and need more from central government. However you view the… dlvr.it/SQ8hmP pic.twitter.com/BsnziyNPIO

    Room151 7 days ago

    Insights and inspiration from LGPS leaders past and present: Four current and former LGPS leaders have recently given powerful and insightful interviews as part of the Fiftyfaces podcast, which showcases inspiring investors and their stories. Hosted by… dlvr.it/SQ53lC pic.twitter.com/IRYMFPxdA2

    Room151 1 week ago

    Rate rise represents ‘fastest increase in borrowing costs in 25 years’: Partner Content: CCLA Investment Management’s Robert Evans analyses the rationale for the Bank of England’s latest rise in the Official Bank Rate and assesses the likely outcome of… dlvr.it/SQ33k3 pic.twitter.com/A81yiS1UgN

  • Categories

    • 151 News
    • Agent 151
    • Audit
    • Blogs
    • Business rates
    • Chris Buss
    • Cllr John Clancy
    • Council tax
    • Dan Bates
    • David Crum
    • David Green
    • Development
    • Education
    • Forum
    • Funding
    • Governance
    • Graham Liddell
    • Housing
    • Ian O'Donnell
    • Infrastructure
    • Interviews
    • Jackie Shute
    • James Bevan
    • Jobs
    • Levelling up
    • LGPS
    • Mark Finnegan
    • Net Zero
    • Private markets
    • Recent Posts
    • Regulation
    • Resources
    • Responsible investing
    • Richard Harbord
    • Risk management
    • Social care
    • Stephen Fitzgerald
    • Stephen Sheen
    • Steve Bishop
    • Technical
    • Transport
    • Treasury
    • Uncategorized
    • William Bourne
  • Archives

    • 2022
    • 2021
    • 2020
    • 2019
    • 2018
    • 2017
    • 2016
    • 2015
    • 2014
    • 2013
    • 2012
    • 2011
  • Previous story Serco to exit leisure and environmental services as share price plummets
  • Next story Dom Piper: Deconstructing a money market fund

© Copyright 2022 Room 151. Typegrid Theme by WPBandit.

0 shares