Sir Merrick unveils municipal bonds project

摘要

The chairman of the Local Government Association (LGA) has said he will announce details of plans to launch a municipal bonds agency later this year. Sir Merrick Cockell said he had been 'delighted' by councils' response to the proposal. He said: 'The time has come to move on from promoting the idea of a municipal bond agency to actually building one. 'LGA officers are now in detailed talks with treasurers from the most interested councils about what getting in on the ground floor of this exciting project would involve. Later this year, I hope to be able to announce how the LGA will proceed with those pioneers into the practical stages of setting a municipal bond agency up. 'A local government bond agency would allow us to take a more commercial approach to borrowing, and benefit both our council taxpayers and the vital infrastructure the nation needs to grow. This is what mature and visionary local government is all about.'