Statistics on borrowing and investments by local authorities in the UK.
The latest local authority borrowing and investments statistics produced by the Department for Communities and Local Government were released on Thursday 13 September 2012.
Key points from the latest release are:
- total gross borrowing of the local government sector rose 16% in the past year from £70.6 billion to £81.8 billion at the end of 2011 to 2012. This represented a 33% increase over 5 years from £61.4 billion at the end of 2006 to 2007
- excluding the one-off housing revenue account settlement of a net £8.1 billion, total borrowing would have been £73.7 billion at the end of 2011 to 2012, a 5% increase from 2010 to 2011 and 20% since 2006 to 2007
- 99% of borrowing is longer-term; of this longer-term borrowing 75% was with the Public Works Loan Board
- total investments rose from £25.1 billion at the end of 2010 to 2011 to £26.1 billion at the end of 2011 to 2012, an increase of 4%
- as at 31 March 2012, 62% of all investments were with banks and building societies, a decrease from 69% at 31 March 2011