Local Government Finance: West Surrey
The question
To ask the Secretary of State for Housing, Communities and Local Government, pursuant to the Answer of 22 May 2026 to Question 442 on Local Government Finance: West Surrey, what are the (a) amounts, (b) length of borrowing and (c) prevailing interest rates on the Public Works Loan Board debt that the new West Surrey unitary council will inherit.
Answered by Alison McGovern
Government does not publish individual local authority loans and interest rates , however, data on loans issued from the Public Works Loan Board is published as Historical Data. Further, authorities are required to report their financial position in their Annual Statement of Accounts. Authorities are required, however, to report their financial position in their Annual Statement of Accounts. Local authorities also provide the Government with data on their borrowing, including source of borrowing. The data can be found on gov.uk here.
The government has committed to unprecedented debt repayment support for Woking Borough Council ahead of their inclusion in the new West Surrey Council, given the significant and exceptional unsupported debt at the council linked to historic capital practices. Further to this unprecedented commitment to repay in-principle an initial £500m of Woking Borough Council’s debt in 2026-27, we are committed to providing interim financial support to the new council until a final decision is made. It is crucial that any debt support must consider value for money for local and national taxpayers.
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