Making real-estate assets work for local governments

This is a guest post by Dag Detter, who led the restructuring of the Swedish portfolios of public assets, Stefan Fölster, President of the Swedish Reform Institute and Josh Ryan-Collins, a Senior Research Fellow at IIPP.

Local governments across the UK are being hit from several directions. Business rates, council tax and transport incomes are all being squeezed by local and national lockdowns, just as new demands are being made on local public health and social care budgets. As the second wave of the virus spreads, there is increasing recognition that the central government’s commitment to “level up” prosperity across England is failing. The UK’s cash-strapped local authorities are among the most stretched in Europe, according to Moody’s Investors Service. This is leaving them vulnerable to the economic contraction caused by the pandemic.

It doesn’t have to be this way. In a new report from the
UCL Institute for Innovation

Read More

State, local governments collected $6,352 per capita in tax revenue: Florida TaxWatch

Florida’s state and local governments collect $6,352 in tax revenue for each of the state’s 21.5 million residents, according to an annual analysis by Florida TaxWatch (FTW), the nonpartisan, Tallahassee-based taxpayer research institute.



a person sitting at a table using a laptop


© Provided by Washington Examiner


While that’s the 12th-lowest tax burden in the nation and nearly $1,600 less than the national average of $7,844, the 2020 edition of How Florida Compares: Taxes indicates a growing disparity in state and local taxes.

Loading...

Load Error

Florida’s per capita share of state government revenues ($3,008) is 48th in the nation and, according the report, its per-capita share of state tax collections ($2,097) is 50th, the nation’s lowest.

Meanwhile, Florida’s per-capita share of local revenues ($3,344) ranks 16th in the country, and its per-capital share of local tax collections ($1,806) is the nation’s 28th highest, FTW calculated.

While the state ranks 38th in overall tax burden, 2020 marks the third

Read More

Ford Government’s New Legislation Will Make It Significantly Harder to Hold For-Profit Long-Term Care Homes Liable for COVID-19 Harms

TORONTO, Oct. 21, 2020 (GLOBE NEWSWIRE) — The Ford government has introduced legislation that would make it significantly harder for residents and families to hold long-term care homes liable for harm resulting from exposure to and infection with COVID-19. The legislation covers any individual, corporation or entity and includes the crown (which means the government and its agencies).

Bill 218, which was both introduced in the Ontario Legislature by the Ford government and passed First Reading yesterday, is retroactive to March 17, 2020 meaning the legal rights of those who were infected, potentially infected or exposed to coronavirus on or after March 17, 2020 will be compromised by the legislation, if it is passed, no matter when they started any legal actions. There will be no compensation or relief for plaintiffs as a result of having their rights extinguished under this bill. The major changes in the legislation are as

Read More

Retrofitting homes could be vital if governments want to hit aggressive emissions targets

  • In an ideal world, all residential spaces would use low carbon, sustainable and energy efficient technology.
  • The reality is different, however: a lot of housing stock is decades, even centuries old.



a clock on the side of a building: Retrofits can include the installation of solar panels on a home's rooftop, such as this property in Kent, England.


© Provided by CNBC
Retrofits can include the installation of solar panels on a home’s rooftop, such as this property in Kent, England.

You only need to look at the huge numbers of people working from home to see how tech has changed the buildings we live in. 

Loading...

Load Error

Through laptops, tablets and smartphones, we can seamlessly connect with colleagues, friends and family located in other towns, cities and countries.

In an ideal world, all residential spaces — the bricks and mortar side of things — would be similarly hi-tech, harnessing digital technologies and innovative design to be low carbon, sustainable and energy efficient.

The reality is different: a lot of housing stock is decades, even centuries, old.

Read More

CAG slams government’s strategic sale of one PSU to another

NEW DELHI: The Comptroller and Auditor General (CAG) has red flagged the government’s “disinvestment” programme involving the “strategic sale” of one public sector undertaking to another state-run entity, as well as flow of the proceeds from sale of shares held by the Specified Undertaking of UTI (SUUTI) into the kitty.
During 2018-19, there were four transactions involving the sale of Rural Electrification Corporation to PFC, Dredging Corporation to port trusts, National Projects Construction Company to WAPCOS Corporation and HSCC (India) to NBCC.
“Such disinvestments only resulted in transfer of resources already with the public sector to the government and did not lead to any change in stake of the public sector/government in disinvested PSUs,” the auditor said in a report tabled in Parliament. These “strategic disinvestments” had generated over a fifth of the disinvestment receipts of Rs 72,620 crore during the year.

In the previous year, the government had sold

Read More