Early loan repayment move could 'save councils millions'

摘要

Following criticism by MPs, the Public Works Loan Board (PWLB) is consulting on procedural changes which could reduce the cost of early repayments - a move that should save local authorities millions of pounds. A consultation letter, sent by the PWLB to councils late last month, reveals it is considering resetting loan rates at intervals during the business day, rather than at the start of each day. Market fluctuations in the daily cost of borrowing currently make it more difficult for councils to obtain the best rates.