Commercial investment
Before reorganisation we need a clear view of the sector's core purpose
How local government 'can sensibly be reorganised without a clear view of its core purpose (will adult social care services be in or out?) or funding mechanisms' is baffling Abdool Kara.
Council-owned energy company to close
Robin Hood Energy is to be closed by Nottingham City Council after five years.
Nottingham agrees governance overhaul
The council will implement a raft of measures in a bid to improve oversight of its companies after its energy firm incurred a £24m loss.
Warrington launches green energy bond
The council aims to raise £1m to fund a green energy project.
Nottingham moves to tighten governance of its companies
Nottingham City Council is to overhaul the governance of its commercial interests following failures at its energy firm.
Advisers offer neat solution to the rocky road ahead
As a raft of councils could face difficulties from their commercial investment, or just failing finances, the Birmingham model of non executive advisers offers a solution to all out intervention, says Heather Jameson
Auditors issue public interest report into Notts firm
Auditors have issued a public interest report into the failures of Nottingham City Council’s commercial firm, Robin Hood Energy.
Reckless councils are the exception, not the rule
Government should come down hard on financially reckless local authorities who lack good governance, says Cllr Chris Criscione – ‘but without ruining it for others who just want to build a better council for their residents’
Council writes off £24m debt
Nottingham City Council has written-off £24m of debt owed by its energy company, newly-released figures have shown.
Council to take commercialisation to 'next level'
Senior Ashford BC councillors will accelerate their approach to commercialisation to the ‘next level’ amid uncertainty over future government funding and a COVID-19 budget hit.
We must provide Luton with a bright future
Luton BC has agreed a ‘drastic’ emergency budget of £22m savings, and will ‘continue to bang loudly on the Government’s door’ for the finances it needs, says leader Hazel Simmons.
Leaders and laggers in a post-COVID world
In a post-modern world of local government we may well be looking at the survival of the fittest and councils could be heading for a ‘slow motion car crash into decline’, warns John Knight.
£13bn construction procurement frameworks launched
Two public sector frameworks totalling £13bn have been launched aimed at providing direct support to local economies and the green recovery.
It's time for a serious, adult conversation on future funding
While the Government is right to caution against councils overexposing themselves on commercial investments, it needs to recognise its own role in creating this situation, according to Claire Kober.
Ministry was 'blind' to council investment risks, says PAC
Ministers have been blind to the risk of commercial investments by councils, Parliament’s spending watchdog has claimed.
Council to sell Bristol Energy
Bristol City Council has given the go-ahead to put its loss-making energy company up for sale.
It makes good sense to diversify income
Some of the commentary on commerciality implies councils are going into these investments recklessly, and that is simply not the case, says Simone Hines. Continuing to be creative and innovative with council finances is going to be vital, she adds.
Is commercial property one risk too far?
Councils with commercial property portfolios financed by borrowing could face additional challenges in the coming months, says Aileen Murphie – and these will test the quality of their risk mitigation and management.
Government to review commercial investment data
The Government will review the data it collects on commercial investments by councils after it was accused of ‘flying blind’ by a senior MP.
Treasury criticised for 'attack' on council sovereignty
A Treasury crackdown on local authorities using cheap finance to buy commercial property for rental income is an ‘attack on the sovereignty of councils,’ a senior councillor has said.
