“Trying to maximise income purely from commercial revenues is NOT what the public want.”

CIPFA chief executive Rob Whiteman has told a conference this morning”

“… At some point in the next 15 – 20 years local government needs to be reorganised. We need to be aware reorganisation would be a good thing.”

But he predicted there was unlikely to be “any meaningful local government reform” for some time.

Local government must rebuild trust with the public, Whiteman told his audience. “In its present form, local government is not perfect.

“I do not think that trying to maximise income purely from commercial revenues is what the public want.”

Don Peebles, head of CIPFA UK policy and technical, echoed this, suggesting local government’s commercial investments should be more about keeping council finances afloat rather than maximising profit.

He said recent changes to the prudential code – the statutory guidance for local government on borrowing and investments – reflected that “the priority is not maximisation of return but the protection of capital”. …”

https://www.publicfinance.co.uk/news/2018/05/local-government-uncertain-place-10-years

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