Uncertainty over funds for cladding replacement
Councils face uncertainty over how they will pay for remedial work to housing blocks in the wake of the Grenfell Tower disaster. A DCLG spokesperson said there was “no guarantee” of central government funding and that it would be “up to local authorities and housing associations to pay” for the work needed to ensure residents’ safety. Financial support would be considered on a “case by case” basis for those that could not afford to carry out the necessary work, but did not clarify what the criteria for that consideration would be.
Birmingham progresses energy company plans
Further work on a new energy company created to raise revenue has been approved by Birmingham City Council. The authority has approved £136,000 from earmarked reserves to add to a previous approval of £164,000 to prepare a business case for the company. A report put before councillors said: “Over the medium-long term the company could provide a vehicle for stimulating investment in energy efficiency and renewable energy infrastructure.”
Solace repeats call for social care funding
Chief executives body Solace has reiterated the need for a long-term solution for funding social care. Paul Najsarek, Solace spokesperson for community wellbeing and chief executive of the London Borough of Ealing, said: “Though the additional injections of funding have been welcome, this has only temporarily held the system back from tipping over the cliff edge it now faces. This can only be tackled by a clear, cross-party, long term vision for the future, based on genuine public engagement; but in the short term the sector needs an additional funding boost straight away, and clarity on the future of the Better Care Fund and other funding mechanisms if it is to stay afloat.”
Pension funds to move to new admin system
Scottish Local Government Pension Scheme funds are looking to create a new integrated pension administration and payroll software system. Edinburgh City Council this week launched a tender to find a supplier for the system, which would also provide benefit entitlement calculations and payments.
Co-op survives after £700m deal
The Co-operative Bank has been saved by a £700m deal, with investors swapping debt for a stake in the bank. The Bank of England’s Prudential Regulation Authority said it had accepted the plan to return the bank to a firm footing. “Supervisors will remain closely engaged with the bank while the actions announced today are taken forward. Implementation is subject to certain regulatory approvals,” the PRA said.
