Consultation display
Devolved Funding: Borrowing Powers and Capital
- This consultation has completed. It ran from Thursday, 2 February 2012 to Thursday, 1 March 2012
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Purpose of the consultation
The Finance
Committee considered aspects of the financing and funding of
devolution in Wales with a view to informing the Part 1 report of the Silk
Commission. In particular the Committee
explored:
- the extent to which the
Welsh Government could be granted borrowing powers, looking at lessons
learnt from the experience of local authorities current borrowing powers;
and
- consider innovative
mechanisms which could be utilised by the Welsh Government to lever
capital funds for infrastructure projects, without negatively impacting on
the Welsh block, including the extent to which current borrowing powers of
local authorities and other organisations could be utilised.
In the course of the inquiry the Committee considered:
- measures taken by local
authorities to determine and keep under review their prudential borrowing
limits and how this is undertaken;
- differing levels of
prudential borrowing used by local authorities in Wales and any reasons
for such differences;
- an overview of the nature
of projects for which unsupported borrowing has been used, and whether
there are particular reasons for such;
- lessons learned from
local authorities on prudential borrowing including the long term impact
of repayments;
- how local authority
borrowing could be used to boost the levels of capital available for Welsh
infrastructure;
- any alternative measures
being considered by local authorities to finance capital expenditure;
- alternative mechanisms of
levering capital funding being considered by the Welsh Government in the
preparation of their Infrastructure Plan, including the possibility of
boosting borrowing by local authorities and other organisations;
- exploring innovative
capital models proposed elsewhere in the UK, how these have been
developed, utilised, and, where possible, how they have performed.
Supporting documents
Contact details
Should you wish to speak to someone regarding this consultation, please use the below contact details:
Naomi Stocks