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Oxford’s borrowing to rise by £30m

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  • by Ian McDiarmid
  • in 151 News · Funding
  • — 30 Jan, 2019

Oxford City Council says in its Treasury Management Strategy for 2019/20 that it expects its prudential borrowing will rise from a projected £247.4m at the end of 2018/19 to £343.8m in 2023/24.

The council will use internal resources as much as possible, but anticipates external borrowing will rise from £198.5m to £229.5m over the same period.

Contributing to the increase are the £47.9m worth of loans to the council’s housing company, partly to finance the purchase of new-build homes at Barton.

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