DCLG releases 2011-12 LA lending and borrowing figures
0The latest Local Authority Borrowing and Investments statistics produced by the Department for Communities and Local Government were released today. As outlined on the DCLG website the key points from the latest release are as follows:
– Total gross borrowing of the local government sector rose 16 per cent in the past year from £70.6bn to £81.8bn at the end of 2011-12. This represented a 33 per cent increase over five years from £61.4bn at the end of 2006-07.
– Excluding the one-off Housing Revenue Account (HRA) settlement of a net £8.1bn, total borrowing would have been £73.7bn at the end of 2011-12, a 5 per cent increase from 2010-11 and 20 per cent since 2006-07.
– 99 per cent of borrowing is longer-term; of this longer-term borrowing 75 per cent was with the Public Works Loan Board.
– Total investments rose from £25.1bn at the end of 2010-11 to £26.1bn at the end of 2011-12, an increase of 4 per cent.
– As at 31 March 2012, 62 per cent of all investments were with banks and building societies, a decrease from 69 per cent at 31 March 2011.
More to follow soon…
