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City of London

Media Story about City of London 'stonewalling' on financial arrangements

Minutes from a City of London Financial Investment Board meeting on March 22, published this month, showed a member queried why the Corporation had made loans to the (Northamptonshire County) council. The minutes state: “The chairman advised the board that the outstanding £20 million loan to Northamptonshire County Council was underwritten by central government. "A member raised a query about loans to local authorities that the board agreed to discuss as a non-public question relating to the work of the board.” Efforts to gain further information on the loan have been stonewalled by the City of London. Board chairman Andrew McMurtrie referred questions about the loan to the Corporation’s media team, which emailed: “The City of London Corporation periodically makes loans to local authorities which we publish on a regular basis." It has not responded to repeated requests for clarification over the past week, after the Ministry of Housing, Communities and Local Government said it did not guarantee loans between local authorities. https://www.getwestlondon.co.uk/news/west-london-news/questions-ask...

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