The UK's exit charge from the EU: insights from modes of accounting

Whatever the final charge on the UK for leaving the EU, the money itself is relatively marginal to the former's public finances. However, this charge is politically sensitive and financially aggravating during one of the longest periods of fiscal austerity in the UK's history. The ways in which leaving is conceptualized have implications for any continuing financial obligations that must be managed within the context of fiscal austerity and political uncertainty. Yet, leaving the EU is a unique transaction: it is not analogous, for example, to a divorce settlement, the leaving of a club, the termination of a commercial contract, the leaving of a treaty‐based international organization, or secession from a state. Analysing the formulation of the charge in terms of the four modes of government accounting—financial reporting, statistical accounting, budgeting, and fiscal sustainability projections—enhances its fiscal transparency. It evidences not only the weakness and inconsistency of the UK's negotiating position but also the dominance in EU thinking of the short‐term budgetary calculations of the 2014–20 Multiannual Financial Framework over its long‐term sustainability without a large net contributor. The final amount paid by the UK will depend on the resolution of competing perspectives as well as on liabilities and contingent liabilities associated with the increasingly complex EU financial architecture

Interoperability optimisation for shared equity housing model development and FTB homeownership in the UK

Purpose – This paper assessed financial interoperability implications associated with First Time Buyers (FTB) in housing development and the role of the Community Land Trust Shared Equity Housing Model (CLT SEHM). Design/Methodology/Approach – The Interoperability optimisation process adopted by this study involved triangulated findings from literature, semi-structured interviews and questionnaire surveys. The text analysis of interview responses was actualised with Nvivo 9.0. This process informed the validation of themes through a questionnaire survey (purposive sampling), of which findings were subsequently analysed with statistical methods including binary logistic regression to validate interoperability rational and implications. Findings – The study identified positive financial interoperability outcomes for a successful synergy between the CLT SEHM and FTBs. From the analysis, there were sustainable results for average income multiple and property transfer/resale value for the CLT SEHM compared to conventional models. However, for the most at risk FTB groups, recommendations included increased concessions for CLT SEHM developments to incentivise bespoke rent purchase hybrid schemes. Originality/value – This research provided a good starting point for achieving improved level of efficiency necessary for the introduction of emerging/renewed alternative housing models into mainstream operational capabilities in housing and local development policies. Keywords – UK Housing Development, First Time Buyers (FTB), Interoperability, Community Land Trust, Shared Equity Housing Model, Binary Logistic Regression mode

Restructuring UK local government employment relations: pay determination and employee participation in tough times

The Conservative-led coalition government has been committed to shrinking the state and this has had a major impact on local government. This article examines the consequences of austerity measures for staff participation and pay determination in UK local government. Local government has been particularly hard hit by austerity measures and this has encouraged employers to change terms and conditions, review forms of staff participation and cut jobs. The implications for the institutional resilience of systems of employment regulation and employee involvement in the sector are considered