Portsmouth to create development company
Senior councillors in Portsmouth are due to vote on proposals to establish an authority-owned development company.
NAO to probe council commercialisation
Local authority commercialisation will further come under the spotlight, with the National Audit Office (NAO) preparing to launch an inquiry.
Opposition members win vote to resurrect Victory Energy
Councillors have made a bid to rescue a council-owned energy company.
Spelthorne calls end to commercial investments
Spelthorne BC has announced an end to its controversial policy of commercial property investments.
EXCLUSIVE: Down to the core
Six out of 10 senior council figures admit their authority is now only delivering a basic core offer of service, The MJ and LGiU think-tank’s annual local government finance survey has revealed.
Auditor warning over Spelthorne spending
Auditor KPMG has warned of a ‘significant risk’ in the way Spelthorne BC controversially bought a BP business park for £385m.
EXCLUSIVE: LGA hit by unexpected £1m insurance bill
Smith Square faces an unexpected bill of up to £1m to cover the start-up costs of the insurance venture it has formed with 14 councils.
Government concern over investments focused on two or three councils
Marsham Street is ‘worried’ about ‘two or three’ councils’ commercial ventures, civil servants have said.
Ministers play down commercialisation 'crackdown'
Ministers have played down the prospect of a widespread crackdown on councils that borrow for commercial reasons.
Finance settlement: Government floats commercialisation crackdown
Whitehall is considering a crackdown on councils that excessively borrow for commercial reasons as it continues to restrict council tax rises.
Council buys retail park for £53m
Croydon LBC has completed the £53m purchase of another freehold site in the borough to provide additional income for frontline services.
Student block purchase to raise £2m a year
The purchase of a purpose-built student accommodation block in Cambridge will allow Cambridgeshire CC to plough £1.9m a year into frontline services.
Council buys company in £17.5m deal
Shetland Islands Council has bought a property investment and development company for just under £17.5m.
SOLACE Summit: Commercialisation crackdown warning
A senior civil servant has warned councils the Government could crack down if commercialisation trends continue.
Council £6m investment to boost income
West Lindsey DC’s property investments have reached £14m with the purchase of a £6m site in Gainsborough – the authority’s biggest deal to date.
Income-generating investments announced by councils
Two more councils have announced income-generating investments as town halls seek the finances required to protect key services amid continued austerity.
Peers suggest senior management restructure
Local Government Association peers have suggested there is an ‘opportunity to rethink’ Shropshire Council’s senior management structure.
Chain ferry contract secured
Wight Shipyard has secured a contract to make improvements to a chain ferry for Isle of Wight Council.
Council launches commercially-driven strategies
Scarborough BC has launched two new commercially-driven strategies as part of its bid to achieve financial sustainability.
Commercialisation risk warning
Less than half of public sector professionals – including council staff – feel they have sufficient risk awareness when managing commercial projects, new research has found.