The final ‘determination’ by the government of the ‘debt’ level for each Council as part of the new ‘self-financing’ system, has just been published. The ‘debt’ payment which Swindon has to hand over to the government in March was reduced by just over £1 million. However, the maximum borrowing level which the Council can have has been reduced by a similar amount, leaving Swindon with an extra £2,000 to lavish on its housing stock.

 

 

Payment to government

Maximum debt
Previous amount

£139,665,000

£173,495,000
Final amount

£138,617,000

£172,449,000
Reduction

£1,048,000

£1,046,000