Changes to the Public Works Loan Board under the Infrastructure Act and retention of Lender of Last Resort facility?
Dear Her Majesty’s Treasury,
As part of changes set in motion with the Infrastructure Act and creation of a Municipal Bond Agency, HM Treasury announced consultation and reforms to the Public Works Loan Board (PWLB) which CIPFA's April 2015 Policy & Guidance Bulletin suggested would take effect during 2015/16.
I note that currently the PWLB provides a "lender of last resort" facility to local authorities across the UK, and are interested to understand if:
a) a risk assessment or consultation regarding removal of PWLB lender of last resort facility has been conducted by HM Treasury (please provide details of the risk assessment & any external bodies consulted) during the last 10 years? , and/ or
b) If Chancellor George Osborne and HM Treasury have committed to maintaining an unrestricted lender of last resort facility for the PWLB, or any reformed successor body?
Joel M Benjamin
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Dear Mr Benjamin,
Please find attached our reply to your Freedom of Information request
dated 8 October.
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