Regulation changes ‘inconsistent’ with other policies
0Proposed changes to local government finance guidance aimed at regulating councils’ commercial activities may be inconsistent with other government policies, according to a new report. Accounting firm Grant Thornton said that the move to limit investment outside of councils’ own area seems to be at odds with a desire to see local government pension pools invest in infrastructure “which by its very nature is likely to be ‘out-of-area’.” The report added: “Furthermore, an over emphasis on commercial property may be out of kilter with the full range of other asset classes which councils are trading in.”
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