Five councils win infrastructure borrowing rate permission
Five local authorities have been successful in the first round of applications for the new local infrastructure rate through the Public Works Loan Board.
Documents released alongside this week’s Budget revealed that the successful local authorities and bodies are Metropolitan Borough of Calderdale, Luton Borough Council, St Helens Council, Transport for London and the West Midlands Combined Authority.
They will be able to borrow a total of £275 million at the new discounted interest rate of gilts +60 basis points, a rate announced at last year’s Budget.
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