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Asked by Andrew Muir

AQW 18451/17-22 Written question to the Minister for Communities

To ask the Minister for Communities whether she will bring forward proposals to allow councils to restructure their outstanding loans without penalty to aid financial circumstances as a result of the pandemic.

Asked by Andrew Muir MLA on 5 May 2021

  • Answered
  • Written
Tabled
5 May 2021
Answer due by
20 May 2021
Answered
17 May 202112 days after tabling
Department
Department for Communities
Priority question
No

Answer

Councils may apply to the Department of Finance (DoF) for loans from the Consolidated Fund or take out commercial loans with private sector providers. Loans from the Consolidated Fund are agreed by DoF, including the term of the loan and the interest rates that will apply.

My officials continue to liaise with councils through ALGFO (Association of Local Government Finance Officers) and SOLACE (Society of Local Authority Chief Executives) and DoF to ascertain if there are options to restructure loans that could be utilised.

Official sources

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