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Leeds borrows £50bn PWLB cash

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  • by Colin Marrs
  • in 151 News
  • — 6 Aug, 2019

Leeds City Council borrowed £50m from the Public Works Loan Board in July to replace short term borrowing with low longer term rates.

A statement from the council said: “As Leeds City Council is in an under borrowed position it has applied this borrowing to previous years’ capital programme expenditure incurred over a number of years.”

A growing number of councils have taken advantage of low PWLB borrowing rates in recent months to fix short term borrowing at lower rates.

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