The recovery of local authority investments since the financial crisis is continuing, newly-published Government figures for 2012/13 have shown. Statistics published by the Department of Communities and Local Government showed that total investments rose from £26.1bn at the end of March 2012 to £29.7hn a year later - a 13.8% increase. Some 63% of these investments were held in banks or building societies - a slight increase from 62% the previous year but well down from the 84% they represented in 2008 before the Icelandic banks crisis. There were large increases in the other securities category - partly due to a £190m hike by Lancashire CC. The statistical release read: 'This continued the recovery in local authority investments since the financial crisis and the £3-6bn increase was greater than the corresponding £2.3bn increase in total local authority borrowing.'
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