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Newham ditches LOBOs pledging £94m in savings

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Newham Council has agreed a deal with Barclays to switch almost half of its Lender Option Borrower Option (LOBO) loans into fixed rate loans.

The biggest risks in local government finance, a backlash over debt write-offs as part of LGR, and a distaste for EFS were revealed in Room151’s annual treasury and finance survey.

(Tina Miguel photography)