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That's what the PLWB is. If memory serves me right, a local authority can borrow 25 years about 1% above gilts

What Labour then introduced was something called the 'Well being' power which provided a very, very, loose justification for intervention. It was incredibly hazy and authorities were encouraged to interpret it accordingly. Some did so, but the reality is most were too scarred to do anything (their own salaries, status, and pensions are potentially at risk if they take a decision that they might be held accountable for). In my experience it was embarrassing as for years they'd complained about red tape and regulation and that was then swept aside with well being which wasn't far off being akin to "anything I think that benefits the local economy so longer as it doesn't involve raising money from members of the public".

The upshot is that they could use well being in conjunction with the PWLB.

I know Bristol were looking at a Bristol business bond at one time and having it credit rated etc but they could raise money at a preferential rate, and relend it at something nearer to a commercial rate, and then wrap it up in well being as the policy framework that permitted it

What you need to do is find some LA's prepared to use their access to PWLB finance. Most would rather find excuses for why they can't do it though

<blockquote data-quote="Warbler" data-source="post: 2469987" data-attributes="member: 65228">That&#039;s what the PLWB is. If memory serves me right, a local authority can borrow 25 years about 1% above giltsWhat Labour then introduced was something called the &#039;Well being&#039; power which provided a very, very, loose justification for intervention. It was incredibly hazy and authorities were encouraged to interpret it accordingly. Some did so, but the reality is most were too scarred to do anything (their own salaries, status, and pensions are potentially at risk if they take a decision that they might be held accountable for). In my experience it was embarrassing as for years they&#039;d complained about red tape and regulation and that was then swept aside with well being which wasn&#039;t far off being akin to &quot;anything I think that benefits the local economy so longer as it doesn&#039;t involve raising money from members of the public&quot;.The upshot is that they could use well being in conjunction with the PWLB.I know Bristol were looking at a Bristol business bond at one time and having it credit rated etc but they could raise money at a preferential rate, and relend it at something nearer to a commercial rate, and then wrap it up in well being as the policy framework that permitted itWhat you need to do is find some LA&#039;s prepared to use their access to PWLB finance. Most would rather find excuses for why they can&#039;t do it though</blockquote>

[QUOTE="Warbler, post: 2469987, member: 65228"] That's what the PLWB is. If memory serves me right, a local authority can borrow 25 years about 1% above gilts What Labour then introduced was something called the 'Well being' power which provided a very, very, loose justification for intervention. It was incredibly hazy and authorities were encouraged to interpret it accordingly. Some did so, but the reality is most were too scarred to do anything (their own salaries, status, and pensions are potentially at risk if they take a decision that they might be held accountable for). In my experience it was embarrassing as for years they'd complained about red tape and regulation and that was then swept aside with well being which wasn't far off being akin to "anything I think that benefits the local economy so longer as it doesn't involve raising money from members of the public". The upshot is that they could use well being in conjunction with the PWLB. I know Bristol were looking at a Bristol business bond at one time and having it credit rated etc but they could raise money at a preferential rate, and relend it at something nearer to a commercial rate, and then wrap it up in well being as the policy framework that permitted it What you need to do is find some LA's prepared to use their access to PWLB finance. Most would rather find excuses for why they can't do it though [/QUOTE]

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