Highlands and Islands Scottish Green Party MSP John Finnie calls for Treasury to grant Highland Council a loan repayment holiday on cash owed to the Public Works Loan Board during coronavirus pandemic

Green MSP John Finnie has written to the UK Treasury calling for Highland Council to be granted a repayment holiday on a debt it owes.

Highland Council currently owes the Public Works Loan Board (PWLB) more than £700 million and is spending more than £40 million a year on repayments.

The PWLB is administered by the UK government and provides loans to local authorities, primarily for significant capital projects.

In October 2019 the Treasury announced it was significantly increasing the interest rate for PWLB loans.

Mr Finnie said: “Many individuals and businesses have been given repayment holidays, rates relief or other financial support during the coronavirus pandemic.

"It’s now time for the UK Treasury to offer that same support to local authorities who have been on the front line of supporting people affected by Covid-19.

"A temporary repayment holiday from PWLB would significantly relieve pressure on Highland Council as we begin to recover from this devastating virus. I call on the Chancellor to do the right thing and offer this modest helping hand.”

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