Public Works Loan Board: Interest Rates
(asked on 24th October 2019) - View Source
Question to the HM Treasury:
To ask Her Majesty's Government what assessment they have made of the effect of the one per cent interest rate rise on the Public Works Loan Board 50-year new maturity loan.
Answered by
Earl of Courtown
Captain of the Queen's Bodyguard of the Yeomen of the Guard (HM Household) (Deputy Chief Whip, House of Lords)
In raising interest rates for new loans from the Public Works Loan Board, the Treasury assessed the potential impact on local government capital plans. Local authorities continue to benefit from very favourable interest rates on Public Works Loan Board loans. This increase returned Public Works Loan Board rates to levels that were available in 2018.
The Government will continue to work with individual authorities on a case-by-case basis if they raise concerns over their financial position.