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Liverpool Echo

National

Tom Duffy

Liverpool Council reveals £878m debt linked to city regeneration schemes

Liverpool City Council owes £878.3m as a result of borrowing money to pay for capital projects.

The majority of the debt relates to money borrowed from the Public Works Loan Board (PWLB). The PWLB loans money on behalf of HM Treasury to local authorities to spend on capital projects.

The council has borrowed over £475m since Labour gained control of the local authority in 2010. The loans, with interest, amount to over £513m.

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