Open consultation

Public Works Loan Board: Future lending terms consultation


The government is seeking views from local authorities and other stakeholders on the lending terms of the Public Works Loan Board.

This consultation closes at

Consultation description

Local authorities invest billions of pounds of capital every year in their communities. The government supports this activity in part by offering low cost loans through the Public Works Loan Board (PWLB). However, in recent years a minority of councils have used this cheap finance to buy very significant amounts of commercial property for rental income, which reduces the availability of PWLB finance for core local authority activities.

To address this the government is consulting on revising the terms of PWLB lending to ensure that local authorities continue to invest in housing, infrastructure, and public services. To further enable high-quality investment by local authorities, the government is cutting the interest rates for investment in social housing by one percentage point and making available an extra £1.15 billion of discounted loans for local infrastructure projects.


Public Works Loan Board: future lending terms

Ways to respond


Email to:

Write to:

PWLB consultation
HM Treasury
One Horse Guards Road
London SW1A 2HQ

Published 11 March 2020