NAPF on LGPS, DCLG Reshuffle, Planning funding, EIB rating, Junk food tax
0NAPF lukewarm over LGPS reform proposals
The National Association of Pension Funds has called on the government to rethink its approach to Local Government Pension Scheme reform. NAPF said proposals to create a small number of collective investment vehicles and restrict active investment strategies would only deal with a tiny proportion of the LGPS’s £47bn deficit. Joanne Segars, chief executive of NAPF, said: “A subtler and more intelligent approach than that outlined by the Government is required if we are to ensure funds with good performance are not hamstrung to help those that perform poorly.”
Call for better planning department funding
Cuts to planning departments could undermine the provision of new housing, according to a report by think tank the Smith Institute. A report found that both developers and planning authorities wanted to see more funds to help smooth the progress of schemes through the planning process. However, developer representatives were wary of the suggestion that planning authorities could charge higher fees to provide dedicates staff for larger development schemes.
DCLG ministers swap roles
Brandon Lewis has been promoted to housing and planning minister in the latest government reshuffle. Responsibility for local government will be taken on by Kris Hopkins, who previously held the job of junior housing minister. Lewis takes on the planning brief from Nick Boles, who is leaving the Department for Communities and Local Government. Despite rumours he might be made chief whip, Eric Pickles remains at the helm of the department as communities secretary.
S&P maintains ratings for EIB
Ratings agency Standard & Poors has affirmed it AAA long-term foreign currency sovereign credit rating and A-1+ short term rating on the European Investment Bank. The rating reflects the bank’s assessment of the bank’s business profile as extremely strong and its financial profile as very strong. The EIB is by far the largest multilateral institution rated by S&P, with assets of €512 billion at the end of 2013.
LGA calls for receipts from junk food tax
The Local Government Association has called for a fifth of VAT on junk food to go to local councils to help them tackle obesity. Councils last year took over responsibility for public health and could spend the extra cash on commissioning weight management services, exercise referral schemes and extending the offer of free or reduced-cost sport, the LGA said.
