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A property fire sale triggered by Prudential Code could ‘shatter’ confidence in local economies

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Officers and experts continue to debate the revised Prudential Code. Some now fear a fire sale of property that could undermine private sector confidence.

Paul Guilliotti, director of Financial Services, Richmond and Wandsworth Councils argues that current high funding levels should be approached with caution as marginal changes to discount rates can potentially have a significant impact.

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