Data showing the finance resilience of councils is to be beefed up in the face of financial failures, finance experts have said.
Following the collapse of local authorities like Thurrock Council and Woking BC, the Chartered Institute of Public Finance and Accountancy’s (CIPFA) financial resilience index will be boosted to identify councils that are over-stretched on their borrowing.
Rules on borrowing from the Public Works Loan Board (PWLB) have already been tightened up, with a strengthened Prudential Code. But now CIPFA plans go further to reveal councils that are over-exposed.
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