Bonds scheme mooted by LGA

摘要

The Local Government Association is drawing up plans to help councils to raise cash through issuing bonds. An executive meeting will today [Thursday] be asked to give the green light to a task force to establish how the system would work. Following the Comprehensive Spending Review in October, the Government raised the interest rates of the Public Works' Loans Board by 1%, raising the cost of borrowing for councils by around /70m a year.