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20% rise in London borrowing over two years expected, MyCouncil data shows

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London boroughs’ borrowing is set to rise by 20% over the next two years, according to the latest data collected from MyCouncil, Room151’s financial insight platform.

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The findings point to a growing capital expenditure for London boroughs, with projected borrowing rising faster than in any other upper-tier authority group and

Mayors have welcomed government plans for good growth funding – which include the development of a £1.5bn borrowing facility from 2028 – ahead of the Autumn Budget and publication of the Fiscal Devolution Roadmap.

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