What's New?
October 10, 2019
October 10, 2019
October 10, 2019
October 10, 2019
October 10, 2019
October 10, 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.
News Roundup: Business rates and ratings, LGPS fees and value, hedge funds, Gloucestershire’s pooling plans 29 Oct, 2015 
Audit review raises prospect of new transparency rules for s151s 11 Jul, 2019 
Public Sector Deposit Fund reaches £300m 8 Sep, 2016 
Treasurers cautioned over maturing bonds 3 Oct, 2019 
Sponsored: Driving regional growth through the government hub programme: by Tom Roberts, head of strategic investment, LGIM Real Assets The government estate is made up of hundreds of thousands of UK assets; from railways ports and prisons to… dlvr.it/RG0FPy pic.twitter.com/IoLXZ0xktB
Market makers to step in to PWLB financing vacuum: Private sector and institutional lenders have been quick to react after the Treasury this week priced itself out of the long-term local government lending market. A new era for local[...] dlvr.it/RFwHGp pic.twitter.com/tr2KiGdUWt
Councils plead for discount PWLB rate to save housing and regen schemes: The District Councils Network has asked the Treasury to create a new Public Works Loan Board discount rate, as councils reassess the viability of their regeneration and housing… dlvr.it/RFwHFF pic.twitter.com/EHZcsCkgZw
PWLB bombshell: ‘Best day for a long time’ for bonds agency: This week’s Public Works Loan Board (PWLB) rate rise has boosted hopes that the UK Municipal Bonds Agency (UKMBA) can finally issue its first bond, as the organisation announced the[...] dlvr.it/RFwH6k pic.twitter.com/8ZXBLVHDnU
Lack of transparency ‘contributed to £11.7m school overspend’: Optimism bias and a culture of limited transparency led to an £11.7m overspend on a new academy school in Northamptonshire, according to an internal investigation. A report presented to… dlvr.it/RFrFkW pic.twitter.com/RspiDcguv9
PWLB rate hike sends shockwaves through council finance sector: Whitehall today threw a hand grenade into local authority borrowing plans by announcing a whole percentage point increase in the rate of borrowing from the Public Works Loan Board (PWLB).[...] dlvr.it/RFqbgN pic.twitter.com/nIhYZLUHCN
Council set to purchase residential block to house staff: A London council is set to approve a loan of £110.5m to one of its wholly-owned companies to purchase a residential block to provide investment income and house its staff[...] dlvr.it/RFmLBx pic.twitter.com/64NX9rtlRX
Government proposes to continue compensating councils with negative RSG: The government is proposing to compensate councils with negative revenue support grant (RSG) in 2020/21, it has announced in a consultation on the distribution of next year’s local… dlvr.it/RFhSS9 pic.twitter.com/iW5po29CvR
Devolution white paper announcement accompanied by hint on unitary push: Local areas could get more powers and cash from central government – but face government pressure to adopt unitary models, following this week’s Conservative Party conference.… dlvr.it/RFRDQ4 pic.twitter.com/kkBXRHw5Xl
Treasurers cautioned over maturing bonds: The boost from fixed interest funds is likely to decline over coming years, investment manager CCLA has predicted. The analysis followed Room 151’s Treasury Investment Survey which revealed that 5% of local… dlvr.it/RFRDNZ
Nottingham introduces special measures to head off £9m overspend: Nottingham City Council is implementing a range of in-year spending controls including a hiring freeze and a halt to non-essential spending to deal with a projected £9m overspend. The… dlvr.it/RFPyyC pic.twitter.com/lQWl54GNok
New FCA rules ‘could lead to more property fund suspensions’: Proposals by the Financial Conduct Authority (FCA) aimed at preventing a repeat of the Woodford crisis could lead multi-asset funds or funds of funds to move away from illiquid assets,[...] dlvr.it/RFMGd0
Rise in council spending on land and buildings slows: The recent boom in council spending on land and buildings slowed last year, indicating that the craze for borrowing to invest in commercial property may be reaching its peak. The[...] dlvr.it/RFMGbx pic.twitter.com/sFBtRwOFWC
Just over four weeks to go until the 2nd Housing & Regeneration Finance Summit socialhousing.co.uk/regeneration-s… #housing #regeneration #finance
CCLA urges review of maturing high-yield bond holdings: Local authorities with exposure to bonds have been urged to review their holdings. Delegates at Room151’s Treasurers Investment Forum were advised that the changes driven by quantitative easing and… dlvr.it/RDy3Qg pic.twitter.com/bkFr3rlK5N
