Treasury Confirms Discounts On Council Borrowing For Housing Projects

Councils are offered a discount on borrowing for housing projects from the Public Works Loan Board (PWLB). In October, the Treasury hiked the PWLB rate by one percentage point, with councils fearing a hit to housing plans. But the Budget pitched PWLB as going back to its pre-October rate. And the Treasury is also pitching plans to cut the PWLB interest rate for all borrowing, but only after it has introduced measures to ban councils borrowing to invest in commercial property. A wider consultation on changes to the PWLB is underway, with Government saying that once a “workable system” is designed and implemented, cuts to the interest on all new loans from the PWLB will come. Read more on 24housing.

https://www.24housing.co.uk/news/treasury-confirms-discounts-on-council-borrowing-for-housing-projects/