• Home
  • About
  • Subscribe
  • Conference
  • Events Calendar
  • Webcast151
  • MOTB
  • Log In
  • Register

Room 151

  • 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

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...

  • News Roundup: Race to beat MiFID II deadline, Worcestershire’s real return investment, Newham’s Olympic stadium write-off, social services News Roundup: Race to beat MiFID II deadline, Worcestershire’s real return investment, Newham’s Olympic stadium write-off, social services 7 Dec, 2017
  • ‘Dangerously low’ reserve levels prompt 8% rates rise ‘Dangerously low’ reserve levels prompt 8% rates rise 20 Feb, 2020
  • Southwest One Deal, Unitarisation Moves, Liverpool Developer Loans, Oxford Borrowing Cap Southwest One Deal, Unitarisation Moves, Liverpool Developer Loans, Oxford Borrowing Cap 3 Oct, 2013
  • Leeds offers business loans through peer-to-peer platform Leeds offers business loans through peer-to-peer platform 1 Mar, 2018

Leave a Reply Cancel reply

You must be logged in to post a comment.

  • Register to become a Room151 user

  • Latest tweets

    Room151 1 hour ago

    All three days of #LATIF & FDs' Summit are available on our webcast channel gotostage.com/channel/room151

    Room151 3 days ago

    FDs’ Summit experts defend councils as MPs label property investment ‘risky’: As Room151’s FDs’ Summit conference explores local government’s investment in commercial property MPs once again lable it a “significant risk to government”. Once again MPs… dlvr.it/Rr7lZx pic.twitter.com/jPvcZjDAS4

    Room151 3 days ago

    Global macro outlook: Virus versus vaccine: Sponsored article: Salman Ahmed argues monetary policy, a global vaccine rollout and fiscal stimulus are likely to put “upward pressure” on bond yields. Much like the latter half of 2020,[...] dlvr.it/Rr60nt pic.twitter.com/qsymBWmKmV

    Room151 4 days ago

    ‘Chasing yield’ not the best strategy as negative rates loom: Recent speculation that the UK may be heading toward negative interest rates prompts questions for treasury officers managing local authority funds at LATIF. Speculation is rife that the UK… dlvr.it/Rr3Mrj pic.twitter.com/wtxYAB20PO

    Room151 6 days ago

    Will new public procurement rules offer the best commercial results?: The government has issued a green paper on reforming procurement rules. Helen Randall and Rebecca Rees examine the proposals and argue they may not go far enough. The Cabinet… dlvr.it/Rqtw6T pic.twitter.com/9GiVTkL08U

    Room151 2 weeks ago

    The vaccine may help settle cash flows but inflation remains a risk: Sponsored article: Lauren Sewell examines the prospects for long-term borrowing as Brexit settles and vaccines are deployed against Covid-19. On the 9th October 2019 Whitehall sent… dlvr.it/RqZXCr pic.twitter.com/PzgOZOGQ0k

    Room151 2 weeks ago

    ESG in liquidity: Sponsored article: Gavin Haywood looks at the integration of ESG in Federated Hermes’ money market funds. Federated Hermes has over 300 public sector clients invested in our AAA rated money[...] dlvr.it/RqZX5f pic.twitter.com/E87sBXsay8

    Room151 2 weeks ago

    New realities of investing cash and liquidity: “What to do now?”: Sponsored article: Brian Buck looks at the “unique challenge” for cash management strategies. As investors assess the ongoing impact of the pandemic on their business, levels of cash and… dlvr.it/RqVbk9 pic.twitter.com/ZElVASmEUV

    Room151 2 weeks ago

    Extra finance promised by the government receives a broad welcome: Sponsored article: The financial pressures facing local authorities this year continue to pose challenges for council treasurers. While the launch of the UK’s Covid-19 vaccination… dlvr.it/RqTzTF pic.twitter.com/HCjH0pyHR5

    Room151 2 weeks ago

    A savvy approach to managing your cash: Sponsored article: Caroline Hedges examines the need for active cash management to achieve a higher than average return. Last year saw the already mountainous pile of negative-yielding debt around the[...] dlvr.it/RqTzMK pic.twitter.com/uP0RQYTJLt

    Room151 2 weeks ago

    Putting alternatives at the heart of multi-asset portfolios: Sponsored article: Nick Edwardson looks at the assets that provide the “most attractive opportunities”. We believe that asset allocation is the primary driver of investment returns and that the… dlvr.it/RqQ2Qt pic.twitter.com/WLBzvRRRUQ

    Room151 2 weeks ago

    Thriving in the pandemic: Avoiding the stragglers: Sponsored article: George Crowdy looks at the sectors providing opportunities for sustainable investment. Throughout much of 2020, we talked about why sustainable investing has thrived in the pandemic,… dlvr.it/RqQ2NQ pic.twitter.com/dxiPWKFsPl

    Room151 2 weeks ago

    The development of CCLA’s mental health benchmark: Sponsored article: Amy Browne examines the importance of investing in mental health in the workplace. We are living through a public health emergency in more ways than one. Physical health[...] dlvr.it/RqQ2Jx pic.twitter.com/o6yRSCX3oF

    Room151 2 weeks ago

    Brexit: What the EU trade deal means for the UK economy: Sponsored article: Hetal Mehta looks at the impact of Brexit on economic prospects. Four and a half years after voting to leave the EU, on Christmas Eve the UK finally[...] dlvr.it/RqLBDt pic.twitter.com/No62srfE8h

    Room151 2 weeks ago

    Cash dethroned: The quest for liquid yield: Sponsored article: Peter Hunt and George Carne ask how treasury departments can balance the need for yield and liquidity. The massive stimulus and waves of liquidity provided by central banks[...] dlvr.it/RqLBDj pic.twitter.com/05g6Zhu1kU

    Room151 2 weeks ago

    Richard Harbord: Delayed “capital determinations” make section 25 opinions a new crunch point: The severe pressure on local government budgets now means section 151 officers confront a tricky call on  whether they can make a judgement on the robustness… dlvr.it/RqLBDV pic.twitter.com/vTAbDKFzkI

    Room151 1 month ago

    PWLB Consultation: Analysis straight from Dickens: Helen Radall and Paul McDermott present a legal examination of the new PWLB borrowing rules as Charles Dickens might have imagined it. Free and easy PWLB (“Marley” to his friends)[...] dlvr.it/RnmwLq pic.twitter.com/yFxcPrQqEG

  • Categories

    • 151 News
    • Agent 151
    • Blogs
    • Chris Buss
    • Cllr John Clancy
    • Dan Bates
    • David Crum
    • David Green
    • Development
    • Forum
    • Funding
    • Graham Liddell
    • Ian O'Donnell
    • Interviews
    • Jackie Shute
    • James Bevan
    • Jobs
    • LGPSi
    • Mark Finnegan
    • Recent Posts
    • Resources
    • Richard Harbord
    • Stephen Fitzgerald
    • Stephen Sheen
    • Steve Bishop
    • Technical
    • Treasury
    • Uncategorized
  • Archives

    • 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 2021 Room 151. Typegrid Theme by WPBandit.

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we'll assume that you are happy to receive all cookies from this website.OK