Clause 13 - Security for money borrowed etc
Local Government Bill
10:45 am
Mr Christopher Leslie (Parliamentary Secretary, Cabinet Office; Shipley, Labour)
All borrowing is to be charged indifferently on all revenues of the authority. That means that in the event of a default on a loan—which, incidentally, has never happened—the lender could look at the entire revenue stream of the authority for reimbursement. I hope that that answers hon. Members' questions and that the clause can stand part of the Bill.
Question put and agreed to.
Clause 13 ordered to stand part of the Bill.