Borrowing

(asked on 5th March 2019) - View Source

Question to the HM Treasury:

To ask Her Majesty's Government whether any borrowing levels have been agreed for the Scottish Parliament, the Welsh Assembly and the Northern Ireland Assembly for the last three years for which figures are available; and if so, what those levels are.


Answered by
Lord Bates Portrait
Lord Bates
This question was answered on 19th March 2019

The aggregate and annual limits for capital borrowing for the Scottish Government and the Welsh Government are set out in Scottish and Welsh Fiscal Framework documents. The Scottish Government may currently borrow up to £3 billion in aggregate and up to £450 million in any year. The Welsh Government may currently borrow up to £1 billion in aggregate and up to £150 million in any year.

The Scottish Government have had capital borrowing powers since 2015-16 and have only used these powers in 2017-18. The Welsh Government have had capital borrowing powers since 2017-18 and have yet to use these powers.

Borrowing by the Northern Ireland Administration is set out in the Northern Ireland Loans Act 1975 as amended by Northern Ireland (Miscellaneous Provisions) Act 2006. This allows for total capital borrowing of £3 billion. The annual limit for borrowing is set by the Treasury and for 2018-19 is £250 million.

The amounts borrowed in the years 2016-17, 2017-18 and 2018-19 are set out in the table below.

£million

2016-17

2017-18

2018-19*

Scottish Government

0

450

0

Welsh Government

n/a

0

0

Northern Ireland Administration

214

34

67

*The totals for 2018-19 reflect the borrowing recorded to date.

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