Income generation
Council to furlough 300 staff
Chelmsford City Council is to furlough hundreds of culture and leisure services employees as coronavirus takes its toll on the authority’s finances
Councils call for £5bn 'income guarantee'
England's largest councils are calling on the Government to provide a £5bn 'income guarantee to avoid them having to declare insolvency during the coronavirus pandemic.
Flybe collapse hits council-owned airports
The airline entered administration this morning, leading to the grounding of all flights.
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.
Nottingham in bid to 'stabilise' energy company
A new management team has been installed at Robin Hood Energy and governance of council-controlled companies is being overhauled after the company was threatened with having its licence revoked.
Council on course to meet investment target
South Cambridgeshire DC has revealed it is on course to generate a quarter of cash spent on services through its own investments.
Bexley slashes development company housebuilding target
Bexley LBC’s wholly-owned housing company has more than halved the number of homes it plans to deliver.
Future Forum North: Call for councils to ‘bust down housebuilding cartel’
Local government has been urged to take on private housebuilders to unleash financial and social benefits.
CIPFA in further property investment crackdown
The prudential code has been further clarified to ‘ensure that responsible decisions are made with transparency and financial sustainability in mind’.
Isle of Wight looks for trading company partner
Norse is the hot favourite to partner Isle of Wight Council in launching a new trading company.
Council energy supplier threatened with licence revocation
Nottingham City Council-owned Robin Hood Energy missed a deadline to pay watchdog Ofgem £9.4m.
Vinci replaces Interserve on multi-million pound York Guildhall project
Vinci has been brought in to complete a major restoration project following the departure of Interserve.
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.
Dawes renews commercialisation warnings
The Ministry of Housing, Communities and Local Government’s (MHCLG) top civil servant has renewed warnings about tougher Whitehall action to prevent risky commercial ventures by councils.
Council snaps up office block
South Somerset DC hopes to make a net initial yield of 7.27% after buying a 12-year-old four-story office block in Milton Keynes for £2.9m.
Profits hike for Telford & Wrekin-owned property firm
Telford & Wrekin Council’s wholly-owned housing provider Nuplace has announced a jump in profits of almost 50%.
Income generation project rakes in £5m
A project launched by Test Valley BC five years ago to combat a decline in Government grants has generated more than £5m for the authority.
Birmingham unveils plans to build thousands of homes in next decade
Birmingham City Council’s housebuilding company has announced plans to build almost 3,000 new homes by 2029.
