This article considers the possibilities for widespread use of municipal bonds to finance public sector infrastructure, with particular reference to Scotland. Provided the various control measures recommended in this article are in place, there can be few objections either in principle or...

<title/> Various bodies have recently discussed the apparent crisis facing the commercial insurance market and the underwriting of employers' liability insurance. As major employers who have traditionally used this market, local authorities would be expected to be heavily exposed to such a crisis....

The contemporary understanding of public sector risk management entails a broadening of the traditional bureaucratic approach to risk beyond the boundaries of purely financial risks. However, evidence suggests that in reality public sector risk management does not always match the rhetoric. This...

Various bodies have recently discussed the apparent crisis facing the commercial insurance market and the underwriting of employers' liability insurance. As major employers who have traditionally used this market, local authorities would be expected to be heavily exposed to such a crisis....

This article considers the utilisation of the UK’s Prudential Borrowing Framework (PBF) and the associated Prudential Code for local government capital finance. It finds that the increased flexibility and local freedom are at the cost of less financial certainty in terms of the risks borne by...

The contemporary understanding of public sector risk management entails a broadening of the traditional bureaucratic approach to risk beyond the boundaries of purely financial risks. However, evidence suggests that in reality public sector risk management does not always match the rhetoric. This...