William Eichler 03 January 2019

Leicestershire CC recovers £5m loan from struggling Northants

Leicestershire CC recovers £5m loan from struggling Northants image

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

Leicestershire made the unsecured loan to its neighbour last January despite the financial difficulties Northamptonshire County Council was facing.

Last January, the then local government secretary Sajid Javid ordered a best value inspection of Northamptonshire CC amid concerns over its financial management and corporate governance.

The following month, the council imposed what would be the first of two emergency spending bans. The Treasury estimated the council faced a £157m cash shortfall between 2006 and 2020 before damping. 

Leicestershire County Council has recovered the funds with £35,000 in interest.

‘We take very seriously the security of our loans,’ said the deputy council leader Byron Rhodes.

‘Our track record is strong and unlike other councils, we did not have any money with Icelandic banks or other high profile bank failures. 

‘Making the most of every pound we spend remains vital and lending money enables us to maximise our income.’

In competition with the PWLB image

In competition with the PWLB

Christian Wall considers what alternative funding channels are available to local authorities beyond the Public Works Loan Board.
Avoiding the precipice image

Avoiding the precipice

As councils seek ways to meet the funding gap, Martin Reeves and Rob Whiteman look at the implications for the future of public services and how we need a mature debate on prevention, accountability and joined up services.
Highways jobs

Change Lead, Adult Social Care & Health

London Borough of Bexley
£41,205 - £48,069
We are currently seeking an experienced Change Lead to work on our Adult Social Care Services’ transformation programme. Bexleyheath, London (Greater)
Recuriter: London Borough of Bexley

Deputy Team Manager

Brent Council
£41,847 - £44,691 p.a. inc.
An exciting opportunity has arisen in the Hospital Discharge Team (HDT) for an experienced Social Worker. Wembley, London (Greater)
Recuriter: Brent Council

Highways Estimator

Ringway
Competitive Salary
As the Highways Estimator you will join a busy environment and become an integral part of the team. Hounslow (London Borough), London (Greater)
Recuriter: Ringway

Joint Strategic Director of Commissioning 

West Sussex County Council
circa £130,000 per annum
The post holder will be able to demonstrate an understanding and embrace the opportunity to address the health... West Sussex
Recuriter: West Sussex County Council

Head of Lifelong Services

West Sussex County Council
up to £85,000 per annum
The Head of Lifelong Services will lead and deliver a new, co-produced, integrated and whole life approach and service working with people... West Sussex
Recuriter: West Sussex County Council

Local Government News

Latest issue - Local Goverrnemnt News

The December issue of Local Government News looks at the consequences a council may face if it is unable to provide statutory services, the launch of Liverpool’s housing company and how councils can best manage roles in local authority companies.

It also has a special section on green building and energy efficiency including what funding is available to enable councils to deliver heat networks and how councils can pay for ‘smart buildings’.

Register for your free magazine