Who are the major borrowers from the Banks?

The first step in the investigation into Local Authority debt was to identify who where the top borrowers from private Banks. The Department of Communities and Local Government (DCLG) provides quarterly  information about Local Authority borrowing on the gov.uk website as “Borrowing and Investment live tables”.

According to the DCLG Tables, 209 Council are borrowing long-term from UK Banks [note: DCLG figures say nothing about LOBO loans – and the actual number of LOBO loan borrowers is closer to 250].

Below are the Local Authorities that are borrowing more than £50,000,000 from UK banks.

Borrowing_and_Investment_Live_Table_2014-15_small

How much is your Local Authority borrowing from banks?

The map below shows Local Authority borrowing at both District Council level and at County/Unitary Authority level – just use the dropdown menu to switch between the two views. Click on any Local Authority to see how much they’re borrowing from UK banks versus their total long-term borrowing and expenditure.

Source: Department for Communities and Local Government, Borrowing and Investment Live Table Q2 2014-15
The darker the local authority the greater the long term borrowing from banks (in the form of LOBO loans).