Clause 4 - Imposition of borrowing limits
Local Government Bill
4:15 pm
Mr Robert Syms (Poole, Conservative)
Portugal, Germany and France have difficulty with the 3 per cent. deficit. In future, if the Government get their way and we become part of the eurozone, the 3 per cent. limit might restrict local authorities' ability to borrow. The Government would have to suppress the borrowing level to live within those limits.