Local Government Finance: Eastleigh

Department for Levelling Up, Housing and Communities written question – answered on 23rd May 2022.

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Photo of Paul Holmes Paul Holmes Conservative, Eastleigh

To ask the Secretary of State for Levelling Up, Housing and Communities, whether his Department plans to take steps to tackle the levels of (a) borrowing and (b) capital risk at Eastleigh Borough Council.

Photo of Kemi Badenoch Kemi Badenoch Minister for Equalities, Minister of State (Housing, Communities and Local Government), Minister of State (Foreign, Commonwealth and Development Office), Minister of State (Foreign, Commonwealth and Development Office) (jointly with Department for Levelling Up, Housing and Communities)

The Government announced that it is legislating to provide appropriate powers to address instances of excessive risk from local authority borrowing and investment. The Department regularly engages with local authorities about their financial management and related policies. As part of engagement with the sector on the new capital measures, we are engaging with a small number of local authorities, including Eastleigh Borough Council, who may be most affected. My department will continue to work with them to understand their plans for reducing their levels of risk ahead of the legislative measures coming into effect, and we expect Eastleigh Borough Council and similar local authorities to engage with us throughout this process.

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