• 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

Croydon ethical mandate, Council independence Bill, Energy investment, Norfolk/Suffolk waste deal…

0
  • by Editor
  • in 151 News
  • — 24 Jul, 2014

Croydon rids itself of “unethical” investments
London Borough of Croydon’s pension fund is moving all of its equity assets – a total of around £350m – to a Legal & General global ethical investment fund. The decision was taken at a meeting of the council’s pension committee and follows local elections in May when Labour wrested control of the council from the Conservatives.

MP publishes council independence Bill
Labour MP Graham Allen has published a Bill proposing greater financial freedoms to local authorities. The bill would require government to guarantee that 10p in every pound of income tax raised by central government is redistributed to councils. It would also prevent central government from capping local authority’s taxation powers and would require all local authorities to operate a balanced budget so that in any one year financial outgoings, including interest payments, should not exceed income.

Think tank: councils should invest more in energy
Councils in Britain’s cities should make more use of their powers to engage in the energy supply market and raise finance for investment in low-carbon infrastructure, according to a leading think tank. The IPPR report identified a range of business model options, exploring how and why cities could assume a central role in addressing the large investment shortfall in the energy sector.

Norfolk and Suffolk sign waste deal
Rubbish from Norfolk will be offloaded to neighbouring Suffolk under a new deal. The agreement will see 40,000 tonnes of household waste turned into electricity at Suffolk’s new energy from waste plant. Both councils stand to make savings of around £1 million each through the two-year agreement. Norfolk will reduce its landfill costs, while Suffolk will benefit from economies of scale.

London CIV begins to take shape
London Councils has set up a limited liability company to run its proposed collective investment vehicle on behalf of the capital’s boroughs’ pension schemes.  The CIV will deliver a platform through which the boroughs can collaborate and collectively invest their assets. Chair of London Councils Jules Pipe said: “There are many more milestones to achieve before the CIV will be fully operational, but it is now possible to say that we are ‘in business’.

Councils win affordable homes cash
A total of 38 councils have won cash from the government’s Affordable Housing Programme for 2015-18. The overall £886m scheme, which is also open to housing associations and registered private developers, is aimed at providing 43,821 new homes – mostly at “affordable rent” levels. Kingston Upon Hull Council won the biggest local authority award of £15.2m.

Government announces schools top-up cash
The government has announced £390m of additional funding for the most underfunded schools in England. In an announcement, education minister said that there was an overwhelming consensus that the allocation of funding to education authorities is currently unfair. He said the new funding would ensure every local area’s allocation of funding will reflect a minimum basic per pupil amount and minimum amounts reflecting other pupil and school characteristics.

Share

You may also like...

  • Borough eyes community bond to fund green infrastructure Borough eyes community bond to fund green infrastructure 17 Dec, 2019
  • Harrogate CIL, Mendip contract, MMF rules, Government cuts, Warwickshire procurement Harrogate CIL, Mendip contract, MMF rules, Government cuts, Warwickshire procurement 31 May, 2013
  • Treasury managers warned commercialisation raises issues for governance Treasury managers warned commercialisation raises issues for governance 21 Sep, 2017
  • News round-up: Infrastructure rate, Scottish LGPS, devolution spending, auditor concerns News round-up: Infrastructure rate, Scottish LGPS, devolution spending, auditor concerns 21 Dec, 2016

Leave a Reply Cancel reply

You must be logged in to post a comment.

  • Register to become a Room151 user

  • Latest tweets

    Room151 14 hours 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 4 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 7 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 Ealing uses CPO to unlock £100m cultural quarter
  • Next story Russia and the EU economy

© 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