Vol. 423 No. 8
66 Mr. Bell asked the Minister for the Environment if he will change the regulations so as to allow local authorities to raise loans, and in certain circumstances, to undertake approved capital works which would be required to be done but for which moneys are not readily available from his Department; and if he will make a statement on the matter.
Borrowing for capital purposes by local authorities forms part of the public capital programme and of the public sector borrowing requirement. As such, it must remain within the limits set annually by the Government in the interests of overall economic and financial management. In addition, account must be taken of the capacity of local authorities to repay. In these circumstances, there are no proposals to amend the relevant statutory provisions.
