Cash managers report steady MMF demand
An annual survey of cash managers has reported that demand for money market funds (MMFs) remains steady against a backdrop of global uncertainty that names Brexit as one of the[…]
Treasury
CCLA launches ‘shareholder power’ initiative to tackle modern slavery
Investment manager CCLA has launched an initiative to use shareholder power to encourage companies to tackle the scourge of modern slavery. CCLA has joined with investor organisation Principles for Responsible[…]
Redbridge taps market for £75m with RPI-linked muni bond
The London Borough of Redbrige council has raised £75m by issuing a bond which aims to beat the PWLB certainty rate by 118bps.The issuance comes just weeks after PWLB significantly[…]
CIPFA property guidance set to provide proportionality advice
Councils will get advice on how to calculate whether their property investments are proportionate or not under new CIPFA guidance on property investment to be released later this month. Last[…]
Forest of Dean quits £50m retail deal
Plans by a Gloucestershire council to invest £50m in a retail development have been abandoned due to the rise in government lending rates. Forest of Dean District Council had been[…]
PWLB borrowing plummets in wake of rate increase
The rate of Public Works Loan Board borrowing fell to its lowest level for more than a year immediately after the Treasury hiked the loan rate last month. After councils[…]
PWLB rate rise condemned as “ideological”
The government’s hike in the Public Works Loan Board rate was “ideological”, “perverse” and “punishing” according to experts speaking this week. The government shocked the sector in October by putting[…]
Replacement for EU funding could be better for councils, claims Jenrick
Funding to replace EU grants for major projects could be better for councils after Brexit, the communities secretary has pledged. In his last appearance before MPs ahead of the general[…]
Manchester reveals £18.9m cost of PWLB rate rise
The Public Works Loan Board rate rise (PWLB) will add £18.9m to the cost of servicing Manchester City Council’s planned borrowing for capital projects, reducing its future borrowing capacity, it[…]
Thanet reinstates suspended s151 officer
Thanet Council has reinstated its section 151 officer following his suspension. Tim Willis, the council’s deputy chief executive, was suspended in August without public explanation by the Kent authority. The[…]
