12.12.19
Local Authority borrowing revolution
In light of the recent one per cent hike in the interest rate offered by the Public Works Loan Board to local councils, an alternative source of economical funding is desperately needed.
The UK Municipal Bonds Agency recently appointed PFM Financial Advisors with a clear remit to focus on structuring the UKMBA’s offering providing a flexible, user-friendly and cost-effective framework to address the borrowing needs of local authorities.
The UKMBA’s chair, Sir Merrick Cockell, said:
“The UK Municipal Bond Agency will revolutionise how local authorities finance their capital expenditure and enable local government to stand on its own two feet, while not indulging imprudent or excessive borrowing. We’ve clearly heard the feedback from local authorities around the original guarantee structure and have taken steps to implement a revised framework that offers the security and flexibility they need.”
EvoNorth speaker Cllr James Jamieson, chair of the Local Government Association, also commented:
“This revised structure presents councils with a range of secure borrowing options and we look forward to working closely with the UKMBA so it can help councils deliver even better value for local taxpayers and benefits for local communities.”
Sir Merrick joins the EvoNorth speaker line-up on 4th March in Manchester to give you the vital information needed on the competitive borrowing options available to you.
Reserve your subsidised public sector delegate pass today for only £89.95, save over £200, earn CPD points and gain invaluable insight. All refreshments are provided complimentary on the day.