Borrowing from the Public Works Loan board totalled £542.5m during July, according to official figures.
The amount was slightly up on the £537m borrowed by local authorities in June but considerably higher than the £74.7m borrowed in June 2018.
The rolling yearly total of PWLB borrowing stands at £10.6bn in the year to July 2019, up from £7.8bn in the year to July 2019.
Last month, Room151 reported figures in the PWLB’s 2018/19 accounts that showed liabilities of £78.34bn in April, up from £70.88bn the year before – driven by a 76.9% increase in new loans advanced to councils over the year.
A current-year increase in the magnitude of liabilities on a par with last year’s would breach the existing cap.
