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.
Warning over coronavirus and commercial investment cocktail
Worried finance chiefs have warned some councils that invested in commercial property have been put at increased risk by the coronavirus pandemic.
The property problem
Lucy Woods advises a ‘pragmatic and sensible’ approach to managing the recommendations due to emerge from the public accounts committee inquiry into councils’ investments in commercial property.
Manchester to create housing company
Manchester City Council is to create its own development company in a bid to meet ambitious housing targets.
Nottingham undaunted by Intu plight
The council has vowed not to let its partner’s financial troubles derail a multi-million pound regeneration project.
Flybe collapse hits council-owned airports
The airline entered administration this morning, leading to the grounding of all flights.
Council firm unveils new name and business plan
Red Door Ventures will be known as Populo Living from April.
Government to review Public Works Loan Board
Two departments are looking at the ‘rates and flexibilities’ the lender offers councils.
EXCLUSIVE: Council rejects budget control review
Warrington Council has rejected a number of findings from an independent review of its approach to budgetary control.
Gravesham aiming to become ‘entrepreneurial authority’
Gravesham BC has formed a local authority trading company in a bid to become an ‘entrepreneurial authority’.
Norwich housing company braced for losses
A housing company owned by Norwich City Council is facing making a loss on its first scheme.
Alarm bells over £6.6bn property spending spree
Auditors have suggested an overhaul of council borrowing and investment rules may be needed after ‘alarm bells’ were triggered by billions of pounds of spending.
Ensuring a commercial hit
Heather Jameson examines the findings of a round table featuring local government lawyers hosted by The MJ and Penna.
Let councils invest or pay up with funding
Tighter controls on local government's investments may be on the way – but central Government will have to make a decision: fund councils or let them fund themselves, says Heather Jameson.
Flagship £25m regeneration project rescued
Basildon BC has rescued a major regeneration project following the collapse of its construction contractor.
Enfield closes care company
Services are to be run in-house after Independence and Wellbeing Enfield (IWE) failed to generate enough commercial income.