Manchester bolsters regeneration with £25m for joint venture
Manchester City Council is lending £25m to a development joint venture in which it is a partner, to protect a major regeneration plan. The city has decided to co-fund a[…]
151 News
Spelthorne’s net property revenue set to overtake council tax income
Spelthorne Borough Council received £7.5m net revenue from its property investments last year – with the figure set to overtake council tax receipts next year. The council’s outturn figures, published[…]
‘Clarity needed’ on LGPS pool arrangements under surprise competition rules
Local Government Pension Scheme (LGPS) funds have unexpectedly been included in new Competition and Markets Authority (CMA) requirements covering relationships with external fund managers and investment consultants. The CMA has[…]
Council commercial property investment rises again
Government data released last week indicates commercial property investment by local authorities rose again last year, though it is unclear on whether the annual rate of increase is slowing. The[…]
Leeds strikes deal with government over rising PFI schools costs
The Department for Education has agreed a deal with Leeds City Council aimed at protecting other education services from increasing costs on its Private Finance Initiative (PFI) schools contracts. A[…]
Spending Review uncertainty leaves fair funding reforms in balance
The emerging fair funding regime for local government finance could be delayed if the Treasury is unable to produce a multi-year Spending Review this year, according to local government minister[…]
Low PWLB rates prompt borrowing surge
An 11% jump in borrowing by councils from the Public Works Loan Board (PWLB) during 2018/19 might have been fuelled by fears over a rise in interest rates, according to[…]
Councils budget for 21% increase in spending on housing
Housing will this year displace highways and transport as the largest area of council capital spending – following the lifting of the housing revenue account borrowing cap. The government this[…]
Croydon looks for big returns on bricks and mortar
Croydon Council this week agreed to sell another 61 development sites to its wholly-owned housing company – Room151 explores the sums.
Council beats Brexit deadline to approve multi-million investment fund
Cabinet members at Norfolk County Council have approved the creation of an investment fund in a move timed to allow access to European Union money before the UK completes Brexit.[…]
