Local authorities’ spending on buying property has fallen more than half following the outbreak of Covid-19, according to statistics from the Ministry of Housing, Communities and Local Government.
The London Borough of Croydon has issued a second section 114 notice after it was unable to make sufficient cuts to balance a forecast £66m overspend in its budget this year.
The UK Municipal Bonds Agency has withdrawn a planned bond issuance with Warrington Borough Council after chancellor Rishi Sunak changed the terms of borrowing from the Public Works Loan Board.
The argument for shifting resources away from housing benefit subsidies to social housing provision is growing stronger, says councillor Graham Chapman.
The Covid-19 pandemic is likely to have a long-lasting impact on governance and financial management in public bodies – Sarah Sheen looks at the issues.
The government is unable to assess whether local authorities have enough funding to manage their flood risk effectively, the National Audit Office has said.
Making hard choices is the only way for London Borough of Croydon to bounce back from the financial brink, says the authority’s cabinet member for finances.
A lack of clarity over who will direct place-investment through the proposed replacement for EU structural funding could cloud our hopes of economic recovery, argues Joe Fyans.
City of Edinburgh Council’s use of its general fund reserves is unsustainable and will be unable to cover future economic shocks, Audit Scotland has warned.
Councils in England will receive an additional £3bn to cover Covid-19 expenditure over the next year, alongside a lifting of social care precept for council tax, the government has confirmed.
Nobody expected the 2020 Spending Review to slam the brakes on, but a prolonged period with no formal fiscal framework will start causing the chancellor new headaches, says Dan Corry.
Catch up with the main spending announcements in today’s settlement, which chancellor Rishi Sunak says represents the fastest revenue spending growth for 15 years, even excluding the Covid-19...
The government has reversed its October 2019 hike in the Public Works Loan Board borrowing rate and introduced a ‘ban’ on councils borrowing to raise revenue from commercial property.
Croydon Council has been unable to set out more than £11.2m of in-year savings towards a £67m shortfall this year – saying the task is impossible without central government support.
The government has been given until 10 December to respond to a legal challenge over local government exit payments tabled by two local authority groups, their lawyer has told PF.
A council granted a capitalisation direction in March has warned it could be forced to deplete its usable reserves down to “unsustainable levels” to help meet an £11m funding gap.
More than half of English councils could be at risk of financial failure by 2023 if the Spending Review merely maintains funding levels, a report from financial adviser Grant Thornton has found.
The Local Government Association has launched an investigation into whether disciplinary action should be taken in relation to senior management actions at financially-stricken London Borough of...
