Consultation outcome

Proposed changes to the prudential framework of capital finance

This consultation has concluded

Download the full outcome

Summary of consultation responses and government response

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Detail of outcome

The government published a consultation document on the proposed changes to Local Authorities Investments Guidance and the Minimum Revenue Provision Guidance in November 2017. This document sets out decisions the government has taken, as a basis for updating the prudential framework.

Original consultation

Summary

We are seeking views on proposals to update the guidance on Local Authorities Investments and on Minimum Revenue Provision.

This consultation ran from
to

Consultation description

The Prudential System is comprised of 4 statutory codes. The Department for Communities and Local Government is responsible for preparing the guidance on Local Authority Investments and the guidance on Minimum Revenue Provision.

Over the past years the regulatory and economic environment has changed significantly and led the sector to consider more innovative types of investment activity. The government has also monitored changes in the practices used for calculating Minimum Revenue Provision.

As a result the government proposes to update the guidance as part of the more general update of the statutory codes comprising the prudential framework.

Documents

Consultation on the proposed changes to the prudential framework of capital finance

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Draft guidance on Local Government Investments

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Draft statutory guidance on Minimum Revenue Provision

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Published 10 November 2017
Last updated 2 February 2018 + show all updates
  1. Added Summary of consultation responses and government response.
  2. Added Q&A document.
  3. First published.