Local Authority round-up 18/10/24
17th October, 2024
Our Local Authority round up provides brief summaries of topical information on a weekly basis, to keep you aware of the changes and updates relevant to you.
Commercial
Government announces new initiatives to boost UK investment
The Infrastructure Bank will operate as the National Wealth Fund (NWF), to catalyse private investment into in the UK’s clean energy and growth industries, including (among others) green hydrogen, carbon capture and gigafactories.
The Chancellor also announced a new British Growth Partnership as part of the British Business Bank (BBB). The BBB currently supports the UK’s fastest growing, most innovative companies, deploying £3.5 billion to support over 23,000 businesses. It is hoped that the British Growth Partnership will support the BBB to create new investment opportunities.
In addition, the Government will reform the British Business Bank’s financial framework to increase its ability to respond flexibly to the market.
For more information please click here.
Education
School-based nurseries to receive £15 million in funding
Primary schools can now apply for up to £150,000 of the £15 million capital funding, with the Government aiming to support up to 300 new or expanded nurseries across England.
The funding forms part of the Government’s Opportunity Mission, which seeks to provide ‘every child the best start in life’ and increase employment options for parents.
To supplement this, the Government also seeks to tackle reported instances of parents facing high additional charges on top of the funded entitlement hours. The Government plans to engage with local authorities and providers to clarify statutory guidance on charging, and consider how to support local authorities and protect parents from overcharging.
The funding is expected to be allocated to successful schools in Spring 2025.
For more information please click here.
Housing
54 councils to receive funding to ‘unlock disused brownfield sites’
The Government will provide £68 million in funding to 54 councils in order to transform neglected land into new homes.
It is hoped that the funding will allow councils to clear empty buildings, former car parks and industrial land, which is currently unused, to boost access to housing. The funding, delivered through the Brownfield Land Release Fund, should ensure councils are able to cover the cost of decontamination, clearing disused buildings or improving infrastructure such as internet, water and power.
Some of the projects to benefit from the funding include (among others):
£2.9 million to Manchester to unlock a vacant brownfield site to build 220 affordable homes; and
£1.4 million to Northampton to transform a former bus depot and deliver 72 new homes.
It has also been announced that Homes England will be investing £30 million to help accelerate the transformation of the Riverside Sunderland, aiming to create around 1,000 new homes, and one million square feet of tailored office space for businesses.
For more information please click here.
Upcoming Events
Webinar: PFI Update
Join us for our PFI Update on Tuesday 5th November between 10:30am – 12:30pm.
During this session, our experts will explore best practices for the daily management of PFI contracts, review recent case studies, and discuss lessons learned from recent PFI contract expiries.
We will also cover effective strategies and timescales for managing contract expiries, examine potential threats of insolvency from Project Co (with insights from a special guest leading counsel), and delve into PFI case law. Additionally, the session will address the latest trends in dispute resolution.
To register your place, please click here.
Please note that this briefing is designed to be informative, not advisory and represents our understanding of English law and practice as at the date indicated. We would always recommend that you should seek specific guidance on any particular legal issue.
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