Council build programmes threatened by rate hike

By Joey Gardiner2019-10-14T05:00:00

Source: Shutterstock

Treasury reveals it has increased rate at which authorities can borrow money

Council housebuilding projects may have to be cancelled following a government announcement that it is increasing the interest rate at which councils can borrow to fund their schemes.

The Treasury wrote to council finance chiefs yesterday to say that the rate of interest charged for money raised under the Public Works Loan Board (PWLB) was going up to 1% above the government’s cost of borrowing.

Already registered? Login here

To continue enjoying Building.co.uk, sign up for free guest access

Existing subscriber? LOGIN

Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.

Limited access to building.co.uk
Breaking industry news as it happens
Breaking, daily and weekly e-newsletters

Get your free guest access SIGN UP TODAY

Subscribe now for unlimited access

Subscribe to Building today and you will benefit from:

Unlimited access to all stories including expert analysis and comment from industry leaders
Our league tables, cost models and economics data
Our online archive of over 10,000 articles
Building magazine digital editions
Building magazine print editions
Printed/digital supplements

Subscribe now for unlimited access.

View our subscription options and join our community