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

Room 151

  • 151 BRIEF

    What's New?

  • Slough welcomes commitment that Office for Local Government ‘will not be a burden’

    June 30, 2022

  • Homes England agrees strategic partnership with two authorities

    June 29, 2022

  • Soaring inflation and pay pressures to add £3.6bn to council budgets

    June 28, 2022

  • Underfunded social care reforms could ‘exacerbate workforce pressures’

    June 27, 2022

  • Nottingham City Council leader labels proposed intervention as ‘disappointing’

    June 27, 2022

  • Government preparing to intervene in Nottingham City Council

    June 23, 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: Liverpool devolution, Invoice fines, ‘Unfair’ business rates, TIF extension, LPFA infrastructure bid…

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

Liverpool calls for devolution inclusion
Leaders of Liverpool City Region Combined Authority have called on the government not to leave them out of plans for financial devolution. Chancellor George Osborne has already announced a package of measures for Manchester, and said similar plans would be drawn up with Sheffield and Leeds. Liverpool has agreed to approach central government as a matter of urgency to begin discussion on similar arrangements for Merseyside.

Unprepared councils ‘face massive invoice fines’
Councils could face massive bills if they are unprepared for legislation requiring them to pay up to £100 for every invoice they pay late. Mary Glindon MP, a member of the CLG Select Committee, has written to the Local Government Association voicing her concerns. Payment services provider Oxygen Finance say that an average upper tier authority could be in line to pay up to £750,000 a year unless they comply with the changes.

Property body calls for reform of ‘unfair’ business rates
The British Property Federation has called for an overhaul of the business rates system to boost investment in towns and cities, and to restore fairness. It called for an end to the current system which rises are calculated using the inflation rate. Liz Peace, chief executive of the British Property Federation, said: “Unlike every other tax in the UK, the business rates burden does not fluctuate with the economic cycle, meaning businesses have to pay the same regardless of economic conditions‎ and this, we argue, must change. Unless Government acts, there may come a time when rates become so high that they squeeze investment out of all but ‎our most prosperous towns and cities.”

MPs tout TIF extension
Councils should be allowed to make greater use of tax increment financing to unlock development, according to the parliamentary All Party Urban Development Group. In a report, the group also said that enterprise zones need to become more bespoke to reflect local conditions. It also called for local enterprise partnerships to have a greater role in the allocation of funds through the Regional Growth Fund.

DCLG consults on Right to Buy receipt arrangements
The Department for Communities and Local Government has launched a consultation on whether it should stick with its current arrangements relating to how Right to Buy receipts are split between local and central government. The purpose of the proposed amendments is to enable local housing authorities to calculate the “poolable” amount derived from the disposal of assets for the years 2015-2016 and 2016-2017. Special arrangements will be put in place for councils undergoing large scale housing transfers.

Tower Hamlets rejects Pickles criticism
Tower Hamlets Council says there is no need for government-appointed commissioners to run the recruitment process for a chief finance officer at the council. Communities secretary Eric Pickles is considering sending in a team to run parts of the council following a critical report by audit firm PwC. The borough’s mayor Lutfur Rahman said: “There is already an established timetable and committee agreed by all parties in the council chamber for appointments so there is no need for the Secretary of State’s intervention.”

Hull considers benefits of joint venture
Hull City Council is considering setting up a new joint venture company to run the council’s revenues and benefit service. The proposal was unveiled in a budget plan for next year, which aims to save £9m from this year. About 200 staff are expected to transfer to the new company, which will bid to carry out processing work for other councils.

Consultancy unveils valuation tool
Pensions consultancy Hymans Robertson has launched an asset valuation tool for local government pension schemes. The Employer Asset Tracker makes monthly asset valuations and could save pension funds up to 50% on valuation fees, the firm claims, by simplifying the process,

Pensions fund seeks to meet Cameron on infrastructure
The London Pensions Fund Authority is calling for renewed efforts to encourage LGPS investment in infrastructure. In a letter in the Financial Times, the authority’s deputy chairman, Sir Merrick Cockell, said that voluntary asset liability management partnerships across the LGPS, could provide a platform for pooled investments. He said: “LPFA, and I am sure other large LGPS funds, would welcome the opportunity to discuss with the prime minister how best to bring local financing and knowledge to the table and enhance the offer to UK pension funds and overseas investors.”

Share

You may also like...

  • Liability benchmark ‘should not be mandatory’ 29th Apr, 2022
  • Slough Council approves plans to restructure finance department 22nd Jun, 2022
  • Fears that members are ‘opting out of LGPS over cost-of-living crisis’ 14th Jun, 2022
  • ‘Urgent consultation’ issued in response to continuing audit delays 13th May, 2022

Leave a Reply Cancel reply

You must be logged in to post a comment.

  • 151 BRIEFS – WHAT’s NEW?

    • Homes England agrees strategic partnership with two authorities
    • Soaring inflation and pay pressures to add £3.6bn to council budgets
    • Underfunded social care reforms could ‘exacerbate workforce pressures’
    • Nottingham City Council leader labels proposed intervention as ‘disappointing’
    • Government preparing to intervene in Nottingham City Council
  • Room151’s LGPS Roundtables

    Biodiversity
    Valuations & Risk
    LGPS Women

  • Room151’s LGPS Roundtables

    Biodiversity
    LGPS Women
    Valuations & Risk
  • Latest tweets

    Room151 9 hours ago

    Hillier confirmed as keynote speaker for LATIF/FDs’ Summit: Dame Meg Hillier, chair of the Public Accounts Committee, has been confirmed as a keynote speaker for Room151’s combined Local Authority Treasurers Investment Forum (LATIF) and FDs Summit. The… dlvr.it/ST70F7 pic.twitter.com/hxV676Iley

    Room151 9 hours ago

    Councils’ funding at risk due to ‘undercounting’ in census data: Population estimates in London and Manchester may have been significantly underestimated in the 2021 census potentially threatening government funding for frontline services in these… dlvr.it/ST707J pic.twitter.com/VncIyaXa01

    Room151 2 days ago

    Gove at LGA: councils to receive two-year financial settlement: Michael Gove has announced that councils will receive a two-year financial settlement from next year to provide authorities with “financial certainty” and allow them to plan ahead. The… dlvr.it/ST0kSV pic.twitter.com/wxL3UM4sGO

    Room151 2 days ago

    LGPS valuations: the digital journey: Rob Bilton explains how technology is helping to deliver one of the most complex data exercises in the world of public sector pensions. The 2022 valuations for LGPS funds in[...] dlvr.it/ST0kMq pic.twitter.com/VxjSPC2Uvo

    Room151 6 days ago

    Conrad Hall: ‘more sophisticated’ regulation needed for local government: The chair of the CIPFA/LASAAC Code Board has questioned the sophistication of financial regulation in local government and the continuing focus of the Department for Levelling Up,… dlvr.it/SSnPBV pic.twitter.com/G5d7JCWF8c

    Room151 1 week ago

    Slough Council approves plans to restructure finance department: Slough Borough Council has approved plans to restructure its finance department to enhance capacity and capability and to address a “significant weakness” in the function. The local… dlvr.it/SSf8DG pic.twitter.com/l5lmyHmkBg

  • Register to become a Room151 user

  • Previous story Newham moves to sidestep Right to Buy
  • Next story Stephen Hughes: Commercial nous

© Copyright 2022 Room 151. Typegrid Theme by WPBandit.

0 shares