§ Mr. Nigel JonesTo ask the Secretary of State for the Environment, Transport and the Regions if he will list the(a) borrowings and (b) borrowing limits of each local authority for each year for which figures are available since 1990. [77440]
§ Ms ArmstrongThe latest information on levels of debt outstanding for each local authority in England relates to 31 March 1997. I have today placed this information in the Library of the House. Information for earlier years could be provided only at disproportionate cost.
Under Part IV of the Local Government and Housing Act 1989, local authorities may borrow for any purpose relevant to their statutory functions. Their total liabilities in respect of outstanding borrowing and other forms of credit must not exceed their Aggregate Credit Limit. The main effect is that authorities may borrow for capital expenditure up to the amount of the credit approvals issued to them by the Government. They may also undertake very limited temporary borrowing for revenue purposes. The Aggregate Credit Limit changes frequently and figures are not collected centrally.