Written Question·Ministry of Housing, Communities and Local Government·UIN 55292
Property Development: Loans
Tabled: 30 May 2025
Answered: 12 June 2025
Question
Kevin Hollinrake
Conservative — Thirsk and Malton
To ask the Secretary of State for Housing, Communities and Local Government, whether her Department has issued guidance to local authorities on offering loans to developers at (a) less than market rate and (b) on preferential terms.
Answer
Matthew PennycookIt is for councils to determine their own capital strategies, as they are best placed to understand local needs and are accountable to the local electorate. In doing so, local authorities have a duty to comply with the Prudential Framework and must have r...
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