Valerie Chairs Delegated Legislation Committee on Local Authority Lending

On Wednesday 13 November 2024, I chaired the Delegated Legislation Committee, to consider the Draft Local Loans (Increase of Limit) Order 2024. The motion was moved by Darren Jones, Chief Secretary to the Treasury.

The order increases the aggregate limit on local loans through His Majesty’s Treasury’s Public Works Loan Board lending facility from the current level of £115 billion to £135 billion, ensuring that local authorities can continue to access lending from the Public Works Loan Board to support their capital investment plans and treasury management.

It will now be approved by Parliament at a later date.