Merrick Cockell, LAPFF Activism, Wandsworth Eyes Mutuals, CIL Consultation, VNAV Worries
0Cockell says goodbye to K&C
Sir Merrick Cockell has stepped down as Leader of Kensington & Chelsea. Commenting on his decision Cockell said: “We are at a critical point for local government and by concentrating fully on my national role at the LGA I will be able to focus my efforts on supporting the sector through the challenges ahead, such as the upcoming Spending Review and its implications for local government.
“In particular, I’m keen to focus on our current and forthcoming work around a new model for local government. This is something which we have been working closely with members on, and will I hope provide a radical and defining vision of how local government can evolve, and ensure that we continue to offer efficient and reliable public services.”
LAPFF: no to golden hello
The Local Authority Pension Fund Forum has asked its members to vote against a ‘golden hello’ for AstraZeneca’s chief executive. The LAPFF has issued a voting alert advising voting against the remuneration report in the pharmaceutical company’s AGM next week and its chairman said: “The LAPFF has a pretty straightforward view on golden hellos: we don’t think executives shoud be paid for performance they have not actually achieved.”
Bigger Big Society for North Norfolk
The North Norfolk District Council’s Big Society Fund is to grow this year. A second, £450,000 cash pot will be available for community projects to bid for but the council will also administer the fund itself, saving £27,000. The pot will be split between a Big Society Fund for applications up to £15,000 and an Enabling Fund to help communities to develop ideas.
Wandsworth looks to mutuals
The London Borough of Wandsworth has asked its staff to suggest ideas such as mutuals and social enterprises to help save the council money. The borough needs to save another £20m in the next two years and also wants staff to look at shared service arrangements and cost reduction plans for their areas. A social enterprise formed by staff at another London borough recently, successfully bid to take over the running of Wandsworth’s library service. Council bosses said that staff who want to form mutuals will be given support and advice.
Nottinghamshire saves £640,000 with water management
Nottinghamshire County Council has saved over £640,000 in the last two years by avoiding wasting water. The council uses an amount of water the equivalent of 300 Olympic sized swimming pools each year with supply and treatment costing £660,000 a year for council buildings and £1m for schools. It worked with a water management firm to install water savers in buildings, fix leaks and ensure accurate billing, refunds and optimal tariffs.
DCLG consults on Community Infrastructure Levy
The Department for Communities and Local Government has begun a consultation on Community Infrastructure Levy regulations. Responses are invited until May 28 and questions are posed around 25 proposed changes.
Treasurers still worry over VNAV
Ratings agency Fitch has found that nearly half of European treasurers who invest in Constant Net Asset Value (CNAV) money market funds are worried about a shift to Variabe Net Asset Value. They believe the funds’ risk profiles could become less clear. However Jonathan Curry, chief investment officer, liquidity, with HSBC Global Asset Management recently told Room 151 that a change to the accounting policies of funds shouldn’t impact risk. “We manage both CNAV and VNAV MMFs and manage them to the same set of investment policies and the same investment process,” he said.
