Concern over lump sums for loan grant payments
Article Abstract:
The United Kingdom's plans to commute loan grant payments from installment schemes to lump sums has raised apprehensions about increased spending on the part of local authorities for the years 1993 to 1994. The grants for loan charges are in the areas of home improvement, city development and slum clearance. The lump sum payments are to be paid to the Public Works Loans Board. The financial burden on local authorities is great since costs of loans which are felt only gradually in an installment payment plan will now be fully experienced after the implementation of the plan in Oct 1992.
Publication Name: Public Finance and Accountancy
Subject: Business
ISSN: 0305-9014
Year: 1992
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Councils get stop-gap aid as MPs urge flexible help
Article Abstract:
UK local councils that invested in the failed Bank of Credit and Commerce International Ltd (BCCI) are being given temporary credits by the UK government to cover losses. However, local councils do not agree with the measure which the Dept of Environment recommended because if BCCI is dissolved, the investments will be classified and written off as capital expenditures. As a result, the credits will be charged against their succeeding allocations. The councils instead propose that credits be made temporary until BCCI is liquidated and the real extent of investment losses are known.
Publication Name: Public Finance and Accountancy
Subject: Business
ISSN: 0305-9014
Year: 1992
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Commission needed to resolve local finance conundrum
Article Abstract:
A unified policy on local government finance for the United Kingdom is far from becoming a reality since politicians from the country's three largest parties continue to bicker about poll tax replacements proposals. Each of the proposals results in wide variations in tax payments and none provides a balance between equity and efficiency. As a solution to such a dilemma, a Royal Commission that would evaluate the local finance problem is proposed.
Publication Name: Public Finance and Accountancy
Subject: Business
ISSN: 0305-9014
Year: 1992
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