The latest local authority borrowing and investments statistics produced by the Department for Communities and Local Government were released on Thursday 1 December 2011.
Key points from the latest release are:
- total gross borrowing increased from £58.1 billion at the end of 2005 to 2006 to £70.6 billion at the end of 2010 to 2011, an increase of 21% over 5 years and 4% over the last year
- 99% of borrowing is longer term of which 76% was with the Public Works Loan Board
- total investments increased from £23.5 billion at the end of 2009 to 2010 to £25.1 billion at the end of 2010 to 2011, an increase of 7%
- 69% of all investments as at 31st March 2011 were in banks and building societies