News Round-up: PWLB abolition, short-term borrowing, Local Partnerships’ CEO, LA debt collection, anti- fraud qualification
0Consultation launched on PWLB abolition
Plans to abolish the Publish Works Loan Board have been revealed in a consultation paper published by the Treasury. The paper proposes moving the PWLB’s powers inside the Treasury for greater ministerial oversight but insists the move in a governance measure and will not affect lending policy. Harriet Baldwin, economic secretary to the Treasury, said: “The government’s preferred option to transfer the functions of the Public Works Loan Board to HM Treasury, will secure greater accountability to ministers and enhance the efficiency and effectiveness of central government lending to local authorities.”
Fall in short-term borrowing by councils
Short-term borrowing by local authorities fell by 12.2% in 2015-16 from the previous year, according to figures released by the DCLG. The total amount of short-term borrowing stood at £585m on 31 March, down from £667m at the end of the previous financial year. Longer term borrowing rose from £85.7bn to £87.6bn and investments fell slightly from £33.3bn to £32.3bn. Deposits in banks fell from £14.4bn to £13.3bn over the period.
Hanson takes reins at Local Partnerships
Sean Hanson has been appointed chief executive of public sector funding and commissioning body Local Partnerships. He takes the helm following the recent retirement of Judith Armitt. Local Partnerships is jointly owned by HM Treasury and the Local Government Association, and works with local authorities and other public service providers across England and Wales to ensure more efficient delivery. Hanson has worked in local authorities and the private sector.
Local authorities fail on debt collection
The local authority sector is among the worst at debt collection, according to new research. A report by outsourcing firm Echo Managed Services said that customers are often subject to inaccurate billing, overly aggressive tactics and recovery procedures which make customers feel embarrassed. Energy companies topped the list, with councils second, above credit card companies.
CIPFA launches anti-corruption qualification
The CIPFA Counter Fraud Centre has launched a new qualification to fight fraud. The Certificate in Anti-Bribery and Corruption Studies, will equip counter-fraud, finance and regulatory compliance specialists with up-to-date knowledge of corrupt practices, legislation and investigation. It has been launched in partnership with the City of London Police.
Strathclyde rewarded for low carbon policies
Strathclyde Pension Fund has been ranked as one of the best in the world for helping fight climate change. The fund moved up 115 places to 34th in a table produced by the Asset Owners Disclosure Project, which has developed a reporting framework for institutional investors. Funds are marked on engagement, risk and investment in low-carbon assets.
