News Round-up: housing associations and Brexit, business rates reform, Housing Bill, ethical investment
0Brexit could dampen housing association’s debt appetite
A vote by the UK to leave the European Union could lead to finance decision being deferred by housing associations, according to ratings agency Fitch. In a document published this week, it said that if house prices fell by a quarter following a leave vote, associations would take a pause before deciding whether to issue more bonds.
Queen’s Speech outlines business rates reform
The government has announced in this week’s Queen’s Speech that it plans to bring forward a Bill to enable councils to retain 100% of business rates. The government said that new measures in the Bill would also allow combined authority mayors to introduce a business rate supplement to fund new infrastructure projects.
Housing and Planning Bill gets Royal Assent
The government’s Housing and Planning Bill, introducing the Right to Buy for housing association tenants, has received Royal Assent. Measures included in the Bill will see councils forced to sell high value properties to fund discounts for tenants, as well as providing new affordable homes.
Collaboration aimed at local growth
Leaders from universities and councils are to work on a new initiative aimed at driving growth and redesigning public services. Pilots for the new Leading Places Project will be rolled out in Gloucestershire, Manchester, Newcastle and Gateshead, Brighton and Sussex, Bristol, and Coventry/Warwickshire this month. Mark Hawthorne, chairman of the Local Government Association’s People and Places Board and also leader of Gloucestershire County Council, said: “Co-operation with universities will give councils access to greater expertise and research opportunities. This is about applying local knowledge to solve problems as well as putting universities at the heart of creating local growth opportunities, innovation and skills.”
Guide to ethical investing launched
The Pensions and Lifetime Savings Association (PLSA) has launched a new guide to environmental, social and corporate investment governance. The new guide was launched at the body’s local authority conference in Gloucestershire this week. PSLA chairman Lesley Williams, said: “There is a growing body of evidence showing that integrating environmental, social and governance considerations into investment decisions can have a positive impact on risk-adjusted returns, particularly over the long-term time horizons applicable to pension funds’ investments. So, this isn’t about going greener but about achieving better outcomes.”
CIPFA launches international qualification
The Chartered Institute of Public Finance and Accountancy has launched new qualifications in International Public Sector Accountancy Standards. Announcing the new qualification, Gillian Fawcett, head of the CIPFA governments faculty, said: “Bringing countries into line with proper accounting standards will offer more accurate picture of national finances, which can help bring stability to international markets.
