Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he make an assessment of the potential merits of extending the remit of the Public Works Loan Board to include local councils in Northern Ireland.

The Public Works Loan Board provides loans at lower than market rates for capital expenditure to local authorities in England, Scotland and Wales. The Local Government Finance Act (Northern Ireland) 2011 provides the legal basis which permits district councils to borrow and sets out the responsibilities of the council should they choose to do so. The Financial Provisions (Northern Ireland) Order 1983 is the legislation which underpins government lending from the Northern Ireland Consolidated Fund to local councils to support capital expenditure. This provides loans at lower than market rates for capital expenditure without extending the remit of the Public Works Loan Board to include local councils in Northern Ireland.