United Kingdom · Question · Written question
HL HL4488
Local Government: Borrowing
Introduced
8 January 2018
Last action
16 January 2018 · Answer
Status
Answered
Sponsors
—
Subjects
Discovery layer
Source updated
16 January 2018
Summary
To ask Her Majesty's Government why local authorities can borrow from the Public Works Loan Board to buy commercial property but not to fund the construction of social housing.
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Timeline
8 January 2018
Written question
To ask Her Majesty's Government why local authorities can borrow from the Public Works Loan Board to buy commercial property but not to fund the construction of social housing.
Source: Lords
16 January 2018
Answer
Under the Local Government Act 2003, local authorities have the freedom to borrow and invest, without government consent, provided that their borrowing is affordable. This is known as the Prudential Framework. Local authorities can borrow from the Public ...
Source: Written answer
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Sponsors
- · Department for Communities and Local Government · Answering body
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Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://questions-statements.parliament.uk/written-questions/detail/2018-01-08/HL4488
- Open data entity: https://questions-statements-api.parliament.uk/api/writtenquestions/questions/818611
- uk · wq-818611 · source updated 16 January 2018