What's New?
July 17, 2019
July 16, 2019
The government has confirmed a new discounted local infrastructure rate available through the Public Works Loan Board. Up to £1bn will be available at the new rate of gilts +60 basis points, which will be available for three years to support projects that are “high value for money”. Details of the bidding process will be published in December.
Border to Coast launches infrastructure and private equity sub-funds: LGPS pool Border to Coast has launched private equity and infrastructure investment opportunities, with commitments of more than £1bn from its member funds. The pool has announced the… dlvr.it/R8ZgvJ pic.twitter.com/royLbp8cfV
HRA lift isn’t magic fix for housebuilding, say councils: Local authorities say the decision to lift the cap on the Housing Revenue Account isn’t enough for them to deliver on the scale needed to end the housing crisis. According[...] dlvr.it/R8RdSj pic.twitter.com/rtUAidlcQz
Audit review raises prospect of new transparency rules for s151s: A review of local government audit announced by the government this week will consider new measures to give the public better access to financial information produced by section 151… dlvr.it/R8D1Hj pic.twitter.com/3GMmnwPjzx
Councils vow to fight £2.35bn business-rates court challenge: The Local Government Association (LGA) will support 45 councils defending a challenge to business rates levied on NHS hospital properties that could see £2.35bn clawed back and set a… dlvr.it/R8CQfr pic.twitter.com/9pKze2sToM
CIPFA backs alternative tool for measuring councils’ financial resilience: Another model aimed at measuring the financial sustainability of councils has joined a crowded field, with the claim that more than a third of councils are at risk of failure[...] dlvr.it/R84tX0
‘Core offer’ not enough to reduce county’s budget gap: A county council which last year decided to cut its service provision to a bare minimum says it will still run out of money without extra funding from central government.[...] dlvr.it/R84tSg pic.twitter.com/MLKbpy66vv
LGPS pool announces resignation of chief executive: The chief executive of LGPS pool Brunel Pension Partnership has quit her role, citing the need for a “different style of leadership”. In an announcement today, Brunel announced that Dawn[...] dlvr.it/R7t0yx pic.twitter.com/fzgE8YpEOm
The future for outsourcing after Barnet formula cracks: Barnet has signalled its outsourcing revolution is being reduced. But is this the return of council provision? Internal reviews are rarely news but the announcement by London Borough of Barnet[...] dlvr.it/R7pnv7 pic.twitter.com/TlXUcf71vQ
Councils reveal fears over funding for services: Almost a fifth of councils lack confidence that they will realise all of the savings identified in their 2019/20 budgets, according to a survey by the Local Government Association (LGA).[...] dlvr.it/R7j6Hh pic.twitter.com/q75AAtIv0q
The early bird registration is open for the 2nd Housing & Regeneration Finance Summit, Oct 31st, County Hall. #localgov #finance #regeneration #housing socialhousing.co.uk/regeneration-s…
Councils budget for rise in social service spending: Total revenue spending on services by all English local authorities is budgeted to rise 3.4% in 2019/20, with spending on children’s social care set to rise by more than 6%.[...] dlvr.it/R7gCVh pic.twitter.com/JJbDk5cV7M
LGPS faces cost uncertainty after Supreme Court upholds McCloud ruling: Local Government Pension Schemes (LGPSs) face ongoing uncertainty over compensation costs after the Supreme Court ruled last week that 2015 changes to the public sector pensions had… dlvr.it/R7cL1p pic.twitter.com/wZVsefPhaV
Commercial activity given greater prominence in draft CIPFA code: CIPFA has amended its draft Financial Management Code for local authorities to give commercial activity greater prominence. The body has amended the proposals to recognise the importance… dlvr.it/R7cKyg
Services set to suffer as adult social care spending share drops: The proportion of council budgets spent on adult social care is set to drop this year for the first time since 2010 – with councils likely to cut services due[...] dlvr.it/R7NFXd pic.twitter.com/4EdBbio20R
Council predicts £5.5m budget overspend after a single month: A Midlands council is predicting a £5.5m overspend on its 2019/20 budget – just one month into the financial year. In a report to Peterborough City Council’s cabinet, Peter Carpenter,[...] dlvr.it/R7MhyX pic.twitter.com/PqP2DAlivM
Kingston looks to set up company to buy £68m of commercial property: The Royal Borough of Kingston upon Thames is planning to set up a property investment company to oversee a planned multi-million-pound investment drive aimed at supporting council… dlvr.it/R7Mhwq pic.twitter.com/0pa76tiHBV
The proposed changes to the LGPS: local valuation cycles and exits: The Ministry of Housing, Communities and Local Government (MHCLG) recently issued a consultation on proposals to amend the Local Government Pension Scheme (LGPS). Barry Mckay looks at… dlvr.it/R79GN2
