Loans

  • Cash-strapped council dumps LOBO loan

    09 August 2021

    Cash-strapped Liverpool City Council is to swap £65m of loans for £107m of debt in order to cut interest payments.


  • Newham to appeal LIBOR loan ruling

    27 April 2021

    Newham LBC has been granted permission to appeal after a bid to sue Barclays over loans was rejected by a High Court judge.


  • Councils' loans legal action fails

    26 February 2021

    Councils are considering whether to appeal after a High Court judge threw out a bid to sue Barclays over a number of loans.


  • Northampton accepts censure over loan

    17 February 2021

    Northampton BC has accepted a public interest report that heavily criticised its financial governance but warned its response will be ‘limited’.


  • Councils bail out airport

    17 February 2021

    Local authorities are among the shareholders that have been asked to provide loans to Birmingham Airport as it suffers from COVID-19 restrictions.


  • Clobbered by COVID

    17 June 2020

    Chair of the Local Government Association's Resources Board Cllr Richard Watts argues that central Government must ensure authorities receive ongoing and consistent funding to enable them to keep supporting their communities.


  • The rising trend of inter-authority lending

    11 March 2020

    With a Treasury review of the Public Works Loan Board (PWLB) underway, Andrew Burns looks at some of the other ways in which local authorities can raise funds – including inter-authority lending.


  • Government to review Public Works Loan Board

    25 February 2020

    Two departments are looking at the ‘rates and flexibilities’ the lender offers councils.


  • Treasury hikes PWLB rate amid investment fears

    10 October 2019

    Councils’ investments plans have been dealt a blow as the Treasury announced a rate hike to the Public Works Loan Board (PWLB).


  • Council to save £143m after ending LOBO loan

    07 May 2019

    Newham LBC is expected to save £143m after successfully terminating its Lender Option Borrower Option (LOBO) loans with NatWest bank.


  • Council LOBO loans to be wound down by RBS

    26 March 2019

    Controversial LOBO loans worth £1bn issued to councils by the Royal Bank of Scotland (RBS) are reportedly to be wound down.


  • Leicestershire CC recovers £5m loan from struggling Northants

    03 January 2019

    Leicestershire County Council has recovered its £5m loan to cash-strapped Northamptonshire after concerns the latter would not be able to repay the money.