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Councils borrow £1.6bn through PWLB in September

Borrowing from the Public Works Loan Board totalled £1.6bn during September.

The amount brings the total lent to local authorities through the PWLB to £9.6bn for the calendar year to date.
With three months left of the year, that is higher than the £7.5bn lent during the whole of 2018.

Last month, councils took £2.0bn, the highest level of PWLB borrowing since

The local government financial crisis has not been caused by a lack of funding: that’s just a symptom of the inherent conflict of having independent local authorities within a highly centralised state, argues Conrad Hall.

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