Treasury hikes PWLB rate amid investment fears
Councils’ investments plans have been dealt a blow as the Treasury announced a rate hike to the Public Works Loan Board (PWLB).
Council energy supplier threatened with licence revocation
Nottingham City Council-owned Robin Hood Energy missed a deadline to pay watchdog Ofgem £9.4m.
Prospering the Warrington way
In the wake of austerity, Warrington’s commercial strategy – mixing small investment with smart aquisitions – is proving a financial success. Dan Peters reports.
Trading services expenditure increases by third
Local authority expenditure on trading services rose by a third in real terms from 2017/18 to 2018/19, new statistics have revealed.
Growth in council loans and commercialism boosts Arlingclose profits
Financial consultancy Arlingclose has reported a growth in profits, boosted by councils’ ‘overtly commercial agenda’.
Council to 'terminate' care company
Scottish Borders councillors will be asked to agree to shut down its care company next week.
Navigating the legal risks of investing in property
Some local government treasurers are asking if today's property investment companies will be tomorrow's Icelandic banks, says Helen Randall. She outlines the legal pitfalls to navigate and the key commercial aspects to consider.
Councils spend £1bn on shopping centres
Councils have committed more than £1bn between 2106 and 2020 by investing in local shopping centres, a study has revealed.
South Somerset trading company targets gap in market
South Somerset DC hopes to generate income from new housing developments through a new trading company.
Council invests in Glastonbury
South Somerset DC is expected to achieve a net initial yield of 7.19% after buying the Glastonbury branch of home improvement chain B&Q for £4.4m.
Portsmouth’s energy firm sale falls through
Portsmouth City Council has admitted defeat in its search for a buyer for its energy company.
Council creates lettings agency in bid to ease housing pressure
Salford City Council has launched its own letting agency aimed at people on its social housing waiting list.
Mastering the art of commercial destiny
Solace has been considering how councils should best participate in the market. Eric Bohl reports on local government’s investment areas, and outlines the key tests for commercial plans.
Making the relationship work
Dean Wetteland, managing director of England's biggest local authority trading company Norse Group, advises on the steps councils thinking of entering the commercial world should consider.
Jenrick to check councils' borrowing bids
New local government secretary Robert Jenrick will take a fresh look at councils excessively borrowing for commercial reasons, The MJ understands.
Council to change finance approach after review
Warrington BC has ‘consistently overspent’ against parts of its budget and needs to change its approach to deliver services ‘from a more sustainable financial footing’.
£1m boost from commercial investment
A plan to invest in commercial property has brought in more than £1m extra in rent over the past year to Basingstoke & Deane BC.
Kingston set to launch £68m property investment company
A new property investment firm is set to be launched by Kingston LBC, backed by a £68m war chest.
Preston steps in to take over struggling Guild Hall
Councillors in Preston have taken back control of the city’s Guild Hall - five years after selling the venue
Giant observation wheel sought by Scarborough
Scarborough BC is looking to add a giant ‘observation wheel’ to the resort’s attractions.