Overview of The Levelling Up and Regeneration Bill

The bill covers provisions for levelling-up missions, local democracy, town planning, Community Infrastructure Levy, regeneration, compulsory land purchases, and governance of institutions. Additionally, it introduces a new Capital Risk Monitoring regime focusing on debt, asset investments, and counterparty risks of local authorities. Scrutiny on project funding and risk management is emphasized, with forthcoming enforcement and consultation on metrics.

• Levelling Up
• Regeneration Bill
• Capital Risk Monitoring
• Local Authorities
• Governance

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Uploaded on Sep 13, 2024 | 0 Views

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1. The Levelling Up and Regeneration bill Background A Bill to make provision for the setting of levelling-up missions and reporting on progress in delivering them; about local democracy; about town and country planning; about Community Infrastructure Levy; about the imposition of Infrastructure Levy; about environmental outcome reports for certain consents and plans; about regeneration; about the compulsory purchase of land; about information and records relating to land, the environment or heritage; for the provision for pavement licences to be permanent; about governance of the Royal Institution of Chartered Surveyors; about vagrancy and begging; and for connected purposes. 1

2. New Capital Risk Monitoring regime Why it Matters To focus on these four Risk categories : The total of a Local Authority s debt (including credit arrangements) compared to the financial resources at the disposal of the Authority The proportion of the total of a local authority s capital assets which are investments made, or held, wholly or mainly in order to generate financial return the proportion of a local authority s debt (including credit arrangements) where the counterparty is not central government or a local authority. Authorities making inadequate MRP contributions, are at risk of not being able to pay the principal of their debt when it becomes due. 2

3. In Context More scrutiny of your projects More scrutiny of how you fund them More scrutiny on how you manage the risks 3

4. Enforcement of the Capital Risk Monitoring regime Exact metrics are still under discussion Threshold breaches will not lead to immediate action Expectation to explain 4

5. Next Steps Consultation on the precise metrics to follow Prepare Accordingly! 5