Commercial investment
Time to pull the belts in and batten down the hatches – again
Tracie Langley says her task of signing off that a budget is robust has to be based on a significant confidence that savings are deliverable, which is becoming tougher when costs are increasing 'without any relationship to the consumer price index'.
Call for council to pull out of loss-making bank
A bank part-owned by Warrington Council has made a loss, according to its latest accounts.
Warrington rebuffs call to end energy investment
Opposition members at Warrington Council have urged the authority to end its investment in a green energy company as the sector is engulfed in crisis.
Council to review development company
Cambridgeshire CC has brought in external consultants to look into its development company.
The importance of being prudent on investment
Richard Lloyd-Bithell explains why CIPFA's new Treasury Management and Prudential Codes 'continue to uphold a key principle of the prudential agenda: that borrowing primarily for return investment is not permissible'.
Mind the Gap
Geoff Tucker at Norse explains how partnership income is easing councils’ funding gap.
Croydon returns to drawing board on regeneration plans
The council maintains delayed plans to develop a Westfield shopping centre are going ahead, despite planning permission for the development having expired.
Council grants oversight ‘not fit for purpose’
The governance of grants worth millions to registered housing providers by Bristol City Council has been heavily criticised by internal auditors.
It’s only a win if everyone succeeds
For SIGOMA members – unitary and metropolitan councils across England – funding service fairly is the key, says Sir Stephen Houghton.
Councils will continue to draw on reserves, predicts Moody's
Many councils will continue to draw on their reserves to manage the uncertain funding environment and offset budgetary pressures, international ratings agency Moody’s has predicted.
Sector should challenge ‘poisonous narrative’ around commercialism
Councils should not be held back from responsible commercial investments because of high-profile failures by their counterparts, according to a panel of experts.
CIPFA to publish strengthened local government prudential code
A new code of practice to ensure local authorities’ financial plans are 'affordable, prudent and sustainable' will be published by the end of the year.
Sharpening the commercial edge
The case for well-managed council commercial activity is one that needs to be defended if we want a mature and sustainable local state, argues Jonathan Werran.
EXCLUSIVE: Councils urged to 'sharpen commercial edge'
A new report has argued that allowing councils to sharpen their commercial edge will ‘unlock immense latent place potential’ and help ‘galvanise recovery’.
Council presses ahead with £100m property investment
Somerset West and Taunton DC has doubled down on its commercial property investments during the COVID-19 pandemic.
Council companies lose £600k
North Yorkshire CC’s commercial ventures are facing a loss of more than £600,000 following a year of COVID-19 disruption.
Croydon-owned developer slumps to £800k loss
Losses at Croydon LBC’s property development firm have continued to grow, according to newly filed accounts.
Reining in the risks?
South Somerset DC takes an entrepreneurial approach that it says has turned it into a council that no longer cuts services. But will the current review of the prudential framework inhibit the sector from spreading investment risk? Dan Peters reports.
Council apologises over property investments
Kensington and Chelsea LBC has admitted putting income above community benefits in its past property deals.
Councils defend 'misunderstood' commercial investments
The Government’s clampdown on commercial investments has come under fire from councils.
