Local Authorities: Budgets
Debate between Baroness Penn and Lord Porter of Spalding(1 year, 2 months ago)
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Baroness Penn (Con)
No, I do not agree. In recent years, a small number of local authorities took on excessive debt through their commercial strategies and investments. The Government have taken action both to bring this practice to an end and to revise the framework by which local authorities can borrow and invest. The levelling-up Bill expands statutory powers to directly tackle excessive risk within the local government capital system.
Lord Porter of Spalding (Con)
My Lords, the scrapping of the Audit Commission was one of the best functions of the previous coalition Government. The Audit Commission wasted billions of pounds of public money.
Baroness Penn (Con)
My noble friend sets out the rationale for the decision that was taken, and the Government have made sure that, in the commission’s place, we have strong controls so that local government spending is done in the best possible way.