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PWLB borrowing remains low during December

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  • by Colin Marrs
  • in 151 News
  • — 6 Jan, 2020

Council borrowing from the Public Works Loan Board remained low in December, the second full month since the Treasury increased the interest rate.

Authorities borrowed £117.7m during the month, up from the £80m borrowed in November, but well down on October’s total of £469.3m.

The full-year total of borrowing for 2019 came to £10.3bn, up from 2018’s £7.5bn.

During October, Whitehall threw a hand grenade into local authority borrowing plans by announcing a whole percentage point increase in the rate of borrowing from the facility.

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    • Leeds’ £120m levelling up bids offers ‘transformational change’
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