§ Mr. NellistTo ask the Secretary of State for the Environment what information he has as to the total level of local authority debt; from which sources the greatest proportions are borrowed; and what percentages mature in the short, medium and long term.
§ Mr. KeyLocal authority loan debt, ie debt incurred for capital purposes, in England at 31 March 1990 is estimated at £49 billion. This figure includes both internal and external debt.
The chief sources of borrowing were the Public Works Loan Board—75 per cent.—and internal reserves and balances—20 per cent. Of the external debt, some 5 per cent was due to be repaid within one year, 20 per cent. in over one year but within five years, and 75 per cent. in over five years.