Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what the Public Works Loan Board's policy is on providing long-term interest-only loans to (a) local authorities and (b) social housing providers.

The Public Works Loan Board offers a range of repayment structures, including maturity loans (where the principal is repaid at the end of the loan term). The choice of loan structure and repayment period is a matter for the borrowing authority, subject to the Prudential Framework and local affordability considerations. HM Treasury keeps the PWLB’s lending arrangements under review to ensure they continue to support local investment while managing risks to the public finances.

More details of the Public Works Loan Board’s lending policy and interest rates are available in the ‘Local Authority Lending’ section of the Debt Management Office’s website.