Laura Sharman 20 April 2020

MPs launch inquiry on local authority commercial investment

MPs launch inquiry on local authority commercial investment image

An inquiry examining investments in commercial property by councils has been launched by the public spending watchdog.

With figures showing local authorities spent £6.6bn on commercial properties in the past three years, the Public Accounts Committee is also calling for evidence on commercial skills in local government.

The committee will also question officials from the Ministry of Housing, Communities, and Local Government on how it formally monitors commercial activity and long-term exposure to risk.

The committee is also exploring how the coronavirus pandemic is impacting on local government finances. 

The Brownfield Land Release Fund image

The Brownfield Land Release Fund

To what extent does this early initiative of the Department for Levelling Up, Housing and Communities deliver on the ‘levelling up’ agenda? Lawrence Turner reports.
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