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Written Question
Local Government: Borrowing
Wednesday 23rd October 2024

Asked by: Roz Savage (Liberal Democrat - South Cotswolds)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will increase the discounted Public Works Loan Board rate to local councils for investment in social housing.

Answered by Darren Jones - Chief Secretary to the Treasury

The Public Works Loan Board (PWLB) lending facility exists to provide cost effective loans to local authorities to support investment and service delivery. HM Treasury keeps all PWLB rates under review, including the discounted rate for investment in social housing. The current discounted rate for Housing Revenue Account lending remains available until June 2025.