Local Authorities in for a shock

In answer to a Written Question, the Government confirms a new statutory code for Councils’ borrowing habits will be “in place early in 2018”. Whitehall has been careful to distance itself from some of the more ‘adventurous’ investments made by Local Authorities, especially around “land and property purchases”, saying these bets are made “without government consent”. The new code is likely to leave Councils fighting their own corner if investments turn bad – with an inevitable and significant impact on local public services.

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