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[…]
Ministers reject creation of new Audit Commission-style watchdog
The government has ruled out setting up a new Audit Commission-style watchdog to oversee scrutiny of council finance – seemingly irrespective of the findings of the Redmond review. A formal[…]
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[…]
MPs add to pressure for business rates system reform
The government should replace the “broken” business rates system with a new model that maintains income for local authorities, according to a report by Parliament’s Treasury Select Committee. In a[…]
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[…]
LGA writes to ministers over audit delays
The Local Government Association has protested to two Whitehall departments about the impact on councils of delays by auditors in preparing their accounts. LGA resources board chair Richard Watts told[…]
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[…]
Survey: Brexit preparations sucking resources from council services
Cash is being diverted from key council services to pay for Brexit preparations, according to a survey of council chiefs. Think tank the New Local Government Network (NLGN) found that[…]
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[…]
