The Treasury could benefit from an £80m windfall from controversially increasing the Public Works Loan Board (PWLB) interest rate by 1%, the Local Government Association (LGA) has said.
In its submission to the Government’s pre-Budget consultation, the LGA said it had calculated the windfall on the basis of council borrowing from the PWLB in 2018/19 and assuming no discounted rates will be offered.
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