You are here: Isle of Man > Isle of Man News
Isle of Man News
General News
Local Authority Borrowing Procedures Streamlined 2 November 2007

The Department of Local Government and the Environment has been looking at ways of streamlining the procedures for Local Authorities to borrow relatively small sums of money. It was felt that the previous process of petitioning the Department in each case was time-consuming and involved excessive expenditure for advertising, etc.

Following consultation the Department determined that, subject to some sensible basic conditions, Local Authorities should be allowed to borrow monies necessary to undertake rate-borne works of £25,000 or less.

Consequently, at its sitting last month Tynwald approved the Local Government (Borrowing) General Consent 2007 which came into operation on the 1st November 2007 and is intended for the financial year 2008/09.

Local Authorities have been advised of the new procedures and a review of the limitations of the General Consent will be carried out after a suitable period of time.

John Shimmin, MHK, Minister, said,

“I am pleased we have been able to streamline the borrowing procedures and feel this is a further demonstration of the Department’s willingness to work constructively with Local Authorities”.

More stories >>>  

Related News Articles
DLGE Increases Awareness of Local Authority Elections 12 March 2008
The Department of Local Government and the Environment is seeking to further increase public awareness of Local Authority Elections by undertaking a radio advertising campaign. [More]
One thousand gambling websites face advertising ban 9 August 2007
A Government crackdown on gambling adverts from places that don’t meet the UK’s strict regulatory standards will lead to about one thousand gambling websites being banned from advertising in the UK. [More]
Office of Fair Trading warns businesses to be wary 13 January 2006
Island businesses are being urged by the Isle of Man Office of Fair Trading to be wary of calls or visits made by marketing companies offering advertising space in directories, wall planners and maps. [More]
Department Seeks Developer For Major Affordable Housing Scheme In Douglas 17 August 2005
The Department of Local Government and the Environment is advertising for Developers to put their names forward for inclusion on the tender list for the detail design and development of its site at Johnny Watterson’s Lane in Douglas. [More]
Chief Minister's statement to the House of Keys on support for the Sefton Group 23 April 2013
Mr SpeakerIn the absence of the Economic Development Minister on Government business, I and the Treasury Minister gave a presentation on Friday to Members of Tynwald on the reasons for Council of Ministers’ decision to support the Sefton Group. [More]

Other Guides by Maxima Systems Ltd: Disney World