PART 6Other provisions

Local loans

300Increase in limit for local loans

1

In section 4(1) of the National Loans Act 1968 (local loans granted by the Public Works Loan Commissioners)—

a

for “£55,000 million” substitute “£85 billion”, and

b

for “£70,000 million” substitute “£95 billion”.

2

The Local Loans (Increase of Limit) Order 2008 (S.I. 2008/3004) is revoked.

3

This section comes into force on such day as the Treasury may by order made by statutory instrument appoint.