West Midlands Combined Authority: Borrowing

Ministry of Housing, Communities and Local Government written question – answered on 8th April 2019.

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Photo of Liam Byrne Liam Byrne Shadow Minister (Digital, Culture, Media and Sport) (Digital Economy)

To ask the Secretary of State for Housing, Communities and Local Government, what the total borrowing capacity is of the West Midlands Combined Authority; and how much that combined authority has borrowed since its establishment.

Photo of Jake Berry Jake Berry Parliamentary Under-Secretary (Housing, Communities and Local Government)

Each combined authority remains responsible for its own borrowing. The prudential borrowing regime provides that an authority can borrow lawfully only if it can demonstrate that servicing and repayments of the debt are affordable. Mayoral combined authorities have annual maximum debt caps in place, agreed with HM Treasury, which can be reviewed if the need arises, and for the West Midlands:

2018-19

2019-20

2020-21

£546,744,807

£783,049,523

£1,041,974,844

Figures published by the Ministry for Housing, Communities and Local Government detail outstanding debt on a quarterly basis for each local authority and combined authority, available at:

https://www.gov.uk/government/statistical-data-sets/live-tables-on-local-government-finance

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