Lib Dems slam Surrey property investments
Liberal Democrats have slammed Surrey Council for its new property investment programme. Hazel Watson, leader of the Liberal Democrats on Surrey County Council, said: “I am deeply concerned that the current return on the county council’s investment portfolio of commercial properties, worth £223m, is actually only £1.8m — a return of less than 1% .” She added that more than £148m has been spent on property outside the county despite the strategy originally being aimed at supporting economic development within Surrey.
LGPS board raises academy concerns with minister
Representatives of the Local Government Pension Scheme Advisory Board have met local government minister Marcus Jones to discuss the impact of increased academisation. A statement from the board said: “Ministers agreed that the immediate focus should be to explore the scope for resolving the identified issues within the LGPS, either by way of general guidance, statutory guidance or, where necessary, through changes to the scheme’s regulatory framework. Although agreeing to focus on solutions within the scheme at this stage, ministers were also clear that should these not prove effective, more radical measures outside of the LGPS would not be completely ruled out.”
Post-Brexit immigration curbs set to hit service funding
A reduction in immigration following Brexit could pose serious problems for the funding of public services, according to experts. A debate organised by the Chartered Institute of Public Finance and Accountancy (CIPFA) heard that leaving the EU will have an “immeasurable impact” on staffing, funding and procurement. A statement from CIPFA said: “Evidence shows immigrants pay more in taxes than they take in services and benefits. If the UK adopts policies that limit immigration, such as a system based on permission to work, then there will likely be economic trade-offs for the public sector.”
Warrington restructures debts with PWLB loan
A loan of £90m from the Public Works Loan Board has been taken by Warrington Borough Council to help restructure its debt. The council will end its short-term borrowing from other authorities in order to fix rates for longer term certainty. The council has taken 14 separate loans ranging in duration between six and 19 years, at rates between 1.37% and 2.56%.
Government to drive system change through Troubled Families Progrogramme
The government is seeking views on proposals to ensure the Troubled Families Programme drives system change. The government said that new funding requirements could require local authorities to invest in data systems and workforce development, among other areas. A statement from the Department for Communities and Local Government said: “We would seek to underpin any new funding requirements with a new approach to audit and monitoring that builds on our existing spot checks process.”
