EXCLUSIVE by DOUG COLLIE
The outstanding total of Scottish Borders Council's indebtedness to HM Treasury has spiralled by more than 35 per cent under the current administration, and now stands at £176 million on a total of 49 separate loans.
Figures have just been published by the Public Works Loan Board [PWLB] showing the amount of money due from every public body in the United Kingdom as of March 31st 2022. These debt totals are known as residual maturity.
Despite "achieving" permanent savings/spending cuts in recent years of £63 million, SBC's level of debt is now some 56% higher than it was in March 2010, the first financial year for which information is available.
Meanwhile the total in the 'Outstanding' column compared to 2017 when the ruling group took control is 37% higher, up more than £35 million from £139 million at the beginning of the five year Scottish local government term.
As we reported exclusively last week the council took a sizeable £20 million loan from PWLB on March 23rd this year, shortly before the Conservative/Independent alliance which has controlled local government services since 2017 was due to leave office in preparation for May's municipal elections. It was the biggest single cash advance taken by SBC since 2007.
The money, we were told, would help pay for Hawick's Flood Prevention Scheme, and replacements for Galashiels Academy and Peebles High School.
On taking control in 2017 the balance owed by the council to the loans board stood at £139.631 million, a figure which had reached £166.369 million by March 2021. The latest statistics from PWLB published data shows SBC's outstanding balance at £176.086 million. The annual cost to local taxpayers of servicing PWLB debt in the Borders exceeds £11 million and does not include a similar sum needed for PPP [Public Private Partnership] schools finance.
Here is a complete breakdown of the 49 SBC loans listed on the PWLB website:
Start date end date Principal balance Interest rate Year end balance
Sep. 1993 May 2053 507,816 8.0% 1,308,000
Sep. 1993 May 2053 60,839 7.88% 154,829
Jan. 1994 Nov 2053 1,354,176 7.0% 3,181,419
Apr. 1995 Nov 2022 381,114 8.5% 411,147
Apr 1995 Nov 2023 381,114 8.5% 438,656
Apr 1995 Nov 2024 381,114 8.5% 464,711
May 1995 Nov 2022 381,114 8.25% 410,195
May 1995 Nov 2023 190,557 8.25% 218,382
Jun 1995 Apr 2022 1,015,632 8.13% 1,056,991
Nov 1995 Oct 2055 2,031,264 8.0% 5,473,687
Jan 1996 Nov 2055 2,031,264 8.0% 5,463,259
Aug 1996 May 2055 1,692,720 8.25% 4,622,373
Aug 1996 May 2055 1,692,720 8.25% 4,622,373
Sep 1996 May 2054 677,088 8.13% 1,797,603
Sep 1996 May 2054 677,088 8.13% 1,797,603
Feb 1997 Nov 2051 2,288,994 7.38% 5,404,286
May 1997 May 2057 1,354,176 7.13% 3,401,972
May 1997 May 2057 1,354,176 7.13% 3,401,972
May 1997 May 2057 1, 354,176 7.13% 3,401,972
May 1997 May 2057 1,354,176 7.13% 3,401,972
May 1997 May 2057 1,354,176 7.13% 3,401,972
Jul 1997 Apr 2027 1,291,858 7.0% 1,690,361
Aug 1997 May 2047 3,385,441 6.88% 7,032,626
Aug 1997 May 2026 1,608,589 6.88% 2,009,434
Oct 1997 May 2057 1,354,176 6.38% 3,125,597
Dec 1997 Nov 2047 2,350,104 6.25% 4,619,387
Dec 1997 Nov 2047 1,354,176 6.25% 2,661,782
Mar 1998 Nov 2052 1,481,383 6.0% 3,065,080
Jun 1998 May 2055 2,708,353 5.38% 5,373,363
Sep 1998 May 2054 2,031,264 4.88% 3,719,552
Dec 1999 Nov 2057 1,692,720 4.88% 3,238,928
Dec 1999 Nov 2057 1,692,720 4.88% 3,238,928
Feb 2000 Nov 2054 2,031,264 5.25% 3,934,399
Feb 2000 May 2054 1,354,176 5.13% 2,565,509
Jul 2001 May 2061 3,031,233 5.13% 6,274,625
Mar 2007 Nov 2052 10,000,000 4.4% 16,790,261
May 2007 Nov 2052 24,000,000 4.6% 44,466,747
Nov 2007 Nov 2052 24,000,000 4.6% 44,466,747
Dec 2007 Nov 2057 2,000,000 4.48% 3,609,318
Sep 2016 Sep 2026 4,000,000 1.49% 4,033,541
Feb 2017 Feb 2027 8,000,000 2.05% 8,292,590
Apr 2017 Mar 2027 10,000,000 1.9% 10,282,685
Dec 2018 Dec 2048 10,000,000 2.74% 12,334,312
Sep 2019 Sep 2034 7,500,000 1.67% 7,562,222
Mar 2022 Mar 2032 20,000,000 2.41% 21,711,481
No comments:
Post a Comment