The Local Authorities (Capital Finance) (Rate of Discount for 1995/96) Regulations 1995
Part IV of the Local Government and Housing Act 1989 makes provision for the capital finance of local authorities. Section 49(2) sets out a formula for determining for the purposes of Part IV the value of the consideration falling to be given by a local authority under a credit arrangement in any financial year after the one in which the arrangement comes into being. The percentage rate of discount prescribed for a financial year is one of the factors referred to in the formula. These Regulations prescribe 9.1 per cent. for the financial year beginning on 1st April 1995 in place of the figure of 9.2 per cent. prescribed for 1994/95.