Research Note th June Council liabilities

Similar documents
Council Tax since

2018 TOWN HALL RICH LIST. Theo Hutchinson April 2018

Council Performance Ratings 2010

S31 Grant determination for a high needs strategic planning fund in : DCLG ref 31/2916

Planned Expenditure by Local Authorities: Services for Young People

Healthwatch is the independent champion for people who use health and social care services.

Workless households for areas across the UK in 2010

School improvement monitoring and brokering grant provisional allocations for illustrative purposes

PQ Local Authorities with exceedances of NO 2 annual mean limit value (based on 2015

STAMP IDENTIFICATION NUMBERS

BBC Local Democracy Reporter allocation

NHS South Warwickshire CCG

Numbers achieving 3 A grades in specific A-Level combinations by school type and LEA

Most regions saw price falls during 2012

Census Briefing Paper One. Housing Tenure Structure in England (2001)

Winners of the Exemplar Awards 2016

Annex 3: CCGs confirmed for waves 1, 2, 3 and 4 for authorisation

England screening uptake rates

House prices in London continue to climb

#element of bullying / harassment South West 2gether NHS FT Mental Health Small

House prices fall in most regions during the third quarter

2016-BASED HOUSEHOLD PROJECTIONS

Q Embargoed until March 2010

Money Advice Service Over-Indebtedness 2017

SUPPLEMENTARY INFORMATION: REGIONAL AND POLITICAL PARTY SUMMARIES. Liveable Lives Research Team

Living Rents. 4th quartile earnings. Local Authority

CCG Annual Assessment 2017/18

Table 4.1 Organisation and management

Business bailiff instructions

*** STRICTLY EMBARGOED UNTIL 7.00AM THURSDAY 2 APRIL 2009 *** Price falls across all regions in Q1 2009

Visitor Attractions Trends in England 2014

Dear Louise. I can confirm that the full list of approved sites for this study is:

Suitability of the subsurface for infiltration SuDS in Great Britain

CAA Passenger Survey Report 2017

Visitor Attractions Trends in England 2017

Council Pensions: The 53 billion black hole

Visitor Attractions Trends in England 2016

Local Authority to Jobcentre Plus District

CHAPLAINCY COSTS SURVEY, ENGLAND

Chief Executives of Local Planning Authorities in England [Via ] Dear Chief Executive, Planning application fees: the Government s offer

Regional Volunteer registration form

The local elections of 4 May Research Paper 95/ May 1995

Levy-supported starts (May 2017 to April 2018) Local Authority District

Amber Valley Bexley Breckland Blackpool UA Blackpool UA Barrow-in-Furness Blackburn with Darwen. Blackburn with Darwen Basildon

Research Note 3 Speeding fines

Oriel 2018 (2019intake) Hospital and Health Board Employers

EMBARGOED UNTIL 00:01 MONDAY 30 APRIL 2007 RESEARCH NOTE 12 COUNCILLORS ALLOWANCES

Local Authority codes

RAC Foundation for Motoring Local Authority Parking Finances in England

POLICE GRANT REPORT ENGLAND AND WALES 2018/19 TABLES. Table 1: Provisional change in total direct resource funding compared to 2017/18

Strategic Estate Advisers Contact Details

Swine Flu Weekly Vaccine Uptake 2009/10 - Frontline HCWs (Primary Care Organisations) Week 4 w/e 31/01/2010 For organisations under HPA

business register and employment survey ONS Crown Copyright Reserved [from Nomis on 15 February 2011]

Passport applications via a German Honorary Consul in the United Kingdom

FINAL POLICE GRANT REPORT ENGLAND AND WALES 2019/20 TABLES

AUTHORITY Central Bedfordshire Bedford Mid and South Bedfordshire Luton Bracknell Forest Reading Slough W Berkshire Windsor & Maidenhead Wokingham

Research Report England Repossession Hotspots 2010/11

PARKING FINES: THE 328 MILLION ENFORCEMENT INDUSTRY

The local elections of 1 May 1997

Premium attached to countryside living Rural homes 43,490 more expensive than homes in urban areas

Area1 Area Code Cut-off Date In Bank Date Area North East Essex. 28th 14th Mid Essex South East Essex

Care Home Live Bed State System. North East & North Cumbria UEC Network. Jonathan Maloney Programme Director. 5 th July 2018

Specialised perinatal community team that meets Perinatal Quality Network Standards Type 1

Clinical Guideline 042. Dementia: supporting people with dementia and their carers. Costing template. Implementing NICE-SCIE guidance in England

Graduates and Regional Productivity. Graham Gudgin Regional Forecasts Ltd

Embargoed until 30/03/2012

Passport applications via German Honorary Consuls in the United Kingdom

00: Not for broadcast or publication before 00:01 Hrs Monday 20th June 2011

RSN Economic Profiling Service

1. On-street income, expenditure and income from penalty charges. 2. Off-street income, expenditure 3. Total transport income, expenditure

Marketing opportunities. UCAS 2019 higher education exhibitions

The local elections of


CAMERON S COUNCIL TAX PLEDGE

Excessive taxes on motorists in each council area in the UK

More transplants new lives

NEWS RELEASE. GB Drink Drive Trends Revealed. From Release Reference Date

The 2014-based Household Projections for England

Counties and unitary authorities in England 167. NUTS levels 1, 2 and 3 in England,

Digital Self-Service in the Public Sector. Survey Report 2015

Application and Agreement Form

E: Population VISUALS

6. Further information on each of the variables is as follows:

Technical specification: BS 4449:2005 GRADE B500B BAR AND COIL

Uttlesford takes the crown as Britain s best rural area to live

WAVERLEY TOPS ANNUAL RURAL AREAS QUALITY OF LIFE SURVEY

Simply better procurement. User Guide. National Framework for Medium Works

Where to live Britain s best country life

Grant in Aid funding allocated to Risk Management Authorities. in 2016/17

List of Sharer Organisations (Updated April 2013)

NATIONAL INSTITUTE FOR HEALTH AND CLINICAL EXCELLENCE. Association of Psychoanalytic Psychotherapy in the NHS (Older Adults Section)

Patterns of housing wealth inequality in Wales, Scotland and Northern Ireland

WRAP Household food waste collections guide Appendix A

List of Sharer Organisations (Updated December 2017)

Affordability of city homes hits ten-year low

1 April Key Points and Trends. 28

Local Authority Parking Finances in England

Census 2011: City snapshot

PPP DATABASE Strategic Service-Delivery Partnerships for local authority ICT, corporate and technical services in Britain.

LOCAL AUTHORITY PROJECTS ENDORSED BY THE INTERDEPARTMENTAL PROJECT REVIEW GROUP (PRG

Transcription:

Research Note 136 26th June 2014 Council liabilities Public sector debt is forecast by the Office for Budgetary Responsibility to exceed 1.3 trillion in 2014-15. 1 However, as explained by previous TaxPayers Alliance research 2, this number does not include a range of expensive commitments such as unfunded pension liabilities. This research looks at the indebtedness of local authorities in the UK. It has found large disparities in the size of councils liabilities and the amount they are borrowing, even among similar authorities in the same region of the country. Much of the long-term liabilities are related to the partially funded Local Government Pension Scheme, but 40 per cent take the form of long-term borrowing. This borrowing is mostly from the Public Works Loan Board (PWLB) and market lenders such as commercial banks. The key findings of this research are: Local authorities in the UK owed more than 180 billion in long-term liabilities on 31 st March 2013 an increase of 8.7 per cent on the previous year. This is almost seven times the amount raised in Council Tax in 2012-13. 3 The long-term liabilities added up to 2,828 per person in the UK on 31 st March 2013. Long-term borrowing made up almost 72 billion of the liabilities. Long-term liabilities were 66 per cent of long-term assets on 31 st March 2013, up from 60 per cent in the previous year. 38 councils had long-term liabilities of more than 4,000 per resident, 11 of more than 5,000 and 4 of more than 6,000. 105 councils increased their long-term borrowing during 2012-13 whilst 214 decreased it. 73 councils had no long-term borrowing. 66 of these were district councils, three were London boroughs and four were unitary authorities or metropolitan boroughs. 1 http://cdn.budgetresponsibility.org.uk/37839-obr-cm-8820-accessible-web-v2.pdf#page=166 2 http://www.taxpayersalliance.com/realdebt.pdf 3 https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/293759/37630_budget_201 4_Web_Accessible.pdf#page=107 55 Tufton Street, London, SW1P 3QL www.taxpayersalliance.com 0845 330 9554 (office hours) 07795 084 113 (24 hours) 1

Birmingham City Council, the UK s largest local authority, had by far the biggest long-term liabilities at almost 6 billion. Just under 2.8 billion of this is made up of long-term borrowing. Birmingham s liabilities are equal to 5,500 per resident the 8 th highest in the country. Scottish councils have by far the biggest liabilities relative to their size, with average long-term liabilities of almost 4,200 per resident. Commhairle nan Eilean Siar had the biggest long-term liabilities per resident in the UK with 8,174. In England South Tyneside Council had the biggest - 6,125. In Wales Blaenau Gwent had the biggest - 7,789 In the East Midlands: Nottingham City Council had the biggest long-term liabilities at 1.34 billion a five per cent increase on the previous year. Nottingham also had the biggest liabilities per resident - 4,353. 10 councils had long-term liabilities equal to or more than the value of their longterm assets, including Nottinghamshire County Council. In the East of England: Essex County Council had the biggest long-term liabilities at 1.48 billion a four per cent increase on the previous year. Harlow District Council had the biggest liabilities per resident - 3,808. Three councils had long-term liabilities equal to or more than the value of their long-term assets: Broadland District Council, Fenland District Council and East Cambridgeshire District Council. In London: Croydon had the biggest long-term liabilities at 1.36 billion a 16 per cent increase on the previous year. Islington had the biggest liabilities per resident - 4,777. Brent s long-term liabilities were equal to 93 per cent of the value of its long-term assets. In the North East: Durham County Council had the biggest long-term liabilities at 1.48 billion an eight per cent increase on the previous year. South Tyneside council had the biggest long-term liabilities per resident - 6,125. 55 Tufton Street, London, SW1P 3QL www.taxpayersalliance.com 0845 330 9554 (office hours) 07795 084 113 (24 hours) 2

Three councils had long-term liabilities equal to or more than the value of their long-term assets: Redcar and Cleveland Borough Council, Darlington Borough Council and North Tyneside Council. In the North West: Lancashire County Council had the biggest long-term liabilities at 2.03 billion a 10 per cent increase on the previous year. The Metropolitan Borough of Knowsley had the biggest long-term liabilities per resident - 3,886. 10 councils had long-term liabilities equal to or more than the value of their longterm assets including Liverpool City Council. In Northern Ireland: Belfast City Council had the biggest long-term liabilities at 146 million a seven per cent increase on the previous year. Coleraine Borough Council had the biggest long-term liabilities per resident - 807. Limavady Borough Council s long-term liabilities were equal to 102 per cent of the value of their long-term assets. In Scotland: Glasgow City Council had the biggest long-term liabilities at 2.78 billion a 10 per cent increase on the previous year. Comhairle nan Eilean Siar had the biggest liabilities per resident in the UK - 8,174. Two councils had long-term liabilities equal to or more than the value of their longterm assets Fife and Dumfries & Galloway. In the South East: Kent County Council had the biggest long-term liabilities at 2.25 billion a one per cent increase on the previous year. Portsmouth City Council had the biggest long-term liabilities per resident - 3,965. Five councils had long-term liabilities equal to or more than the value of their longterm assets, including Surrey County Council and Kent County Council. In the South West: Cornwall Council had the biggest long-term liabilities at 1.42 billion an 11 per cent increase on the previous year. 55 Tufton Street, London, SW1P 3QL www.taxpayersalliance.com 0845 330 9554 (office hours) 07795 084 113 (24 hours) 3

Bristol City Council had the biggest liabilities per resident - 3,113. 12 councils had long-term liabilities equal to or more than the value of their longterm assets, including Devon County Council and Somerset County Council. In Wales: Cardiff City Council had the biggest long-term liabilities at 1.21 billion a six per cent increase on the previous year. Blaenau Gwent had the biggest long-term liabilities per resident - 7,789. Two councils had long-term liabilities equal to or more than the value of their longterm assets Torfaen and Merthyr Tydfil. In the West Midlands: Birmingham City Council had the biggest long-term liabilities at 5.96 billion a 15 per cent increase on the previous year. Birmingham also had the biggest liabilities per resident - 5,494. Nine councils had long-term liabilities equal to or more than the value of their longterm assets, including Birmingham City Council, Warwickshire County Council and Walsall Metropolitan Borough Council. In Yorkshire and the Humber: Leeds City Council had the biggest long-term liabilities at 3.09 billion a six per cent increase on the previous year. Barnsley Metropolitan Borough Council had the biggest liabilities per resident - 4,795. Five councils had long-term liabilities equal to or more than the value of their longterm assets, including Bradford City Council. 55 Tufton Street, London, SW1P 3QL www.taxpayersalliance.com 0845 330 9554 (office hours) 07795 084 113 (24 hours) 4

Guide to tables: 1. Local authority long-term liabilities by region 2. Local authorities where long-term liabilities exceed long-term assets 3. Local authorities with the biggest long-term liabilities 4. Local authorities with the biggest long-term liabilities per resident 5. Local authorities with biggest percentage increase in long-term liabilities 6. Local authorities with biggest cash increase in long-term liabilities 7. Local authorities with the highest long-term borrowing 8. Local authorities with the biggest percentage increase in long-term borrowing 9. Local authorities with the biggest cash increase in long-term borrowing To see the complete data set click here To discuss the research, please contact: Alex Wild Policy Analyst, TaxPayers' Alliance alex.wild@taxpayersalliance.com 07776 205 823 Financial support for this research paper was provided by the Politics and Economics Research Trust (charity number 1121849). Any views expressed in this paper are those of the author and not those of the research trust or of its trustees. 55 Tufton Street, London, SW1P 3QL www.taxpayersalliance.com 0845 330 9554 (office hours) 07795 084 113 (24 hours) 5

1. Local Authority long-term liabilities by region Region 31 st March 2013 (,000) 31 st March 20012 (,000) Increase (%) Long-term liabilities as a percentage of assets on 31 st March 2013 (%) Long-term liabilities per resident on 31 st March 2013 ( ) East Midlands 11,943,014 11,121,644 7 72 2,615 East of England 14,337,071 13,372,070 7 57 2,427 London 27,750,497 24,658,949 11 56 3,340 North East 9,280,448 8,721,198 6 83 3,566 North West 17,127,979 15,262,586 11 72 2,418 Northern Ireland 859,574 811,851 6 50 471 Scotland 22,091,676 20,630,478 7 57 4,183 South East 18,596,704 18,156,200 2 57 2,131 South West 12,391,352 11,623,869 6 71 2,321 Wales 10,191,154 9,270,496 9 67 3,315 West Midlands 19,140,838 17,061,828 11 87 3,392 Yorkshire and the Humber 16,330,283 14,896,259 9 80 3,072 Total 180,040,590 165,587,428 9 66 2,828 55 Tufton Street, London, SW1P 3QL www.taxpayersalliance.com 0845 330 9554 (office hours) 07795 084 113 (24 hours) 6

2. Local authorities where long-term liabilities exceed long-term assets Local authority 31 st March 2013 (,000) 31 st March 20012 (,000) Long-term liabilities as a percentage of long-term assets on 31 st March 2013 (%) Sevenoaks 53,247 21,090 252 Forest of Dean 33,023 17,596 188 Tewkesbury 29,111 16,717 174 Hart 32,038 19,590 164 Weymouth and Portland 81,289 51,431 158 Walsall 758,116 488,720 155 Ryedale 26,899 18,017 149 Purbeck 16,068 11,040 146 West Lindsey 26,120 18,099 144 Broadland 22,114 15,712 141 Redcar and Cleveland 388,627 279,320 139 Gedling 41,730 30,224 138 Fenland 52,470 38,484 136 Dumfries and Galloway 936,207 689,256 136 Teignbridge 68,447 51,480 133 South Staffordshire 27,086 20,828 130 Hyndburn 57,114 44,653 128 Chorley 48,819 38,173 128 Fylde 30,668 24,647 124 North Dorset 17,651 14,617 121 East Staffordshire 57,684 47,828 121 Stafford 49,554 41,786 119 South Somerset 71,424 60,576 118 Amber Valley 63,546 54,712 116 South Lakeland 54,296 46,990 116 Rossendale 33,497 29,545 113 Devon 1,354,324 1,196,488 113 Oldham 689,019 609,399 113 Birmingham 5,963,700 5,305,500 112 Mendip 30,107 26,956 112 Merthyr Tydfil 256,433 234,699 109 Blaby 26,551 24,377 109 Bradford 1,459,331 1,340,267 109 Nottinghamshire 1,329,542 1,223,370 109 North Tyneside 901,716 837,278 108 Surrey 1,387,483 1,295,587 107 Craven 34,542 32,313 107 Malvern Hills 28,245 26,436 107 55 Tufton Street, London, SW1P 3QL www.taxpayersalliance.com 0845 330 9554 (office hours) 07795 084 113 (24 hours) 7

Local authority 31 st March 2013 (,000) 31 st March 20012 (,000) Long-term liabilities as a percentage of long-term assets on 31 st March 2013 (%) Warwickshire 1,064,800 997,900 107 Kent 2,247,670 2,108,485 107 North East Lincolnshire 318,465 300,338 106 South Northamptonshire 34,406 32,537 106 Knowsley 567,065 537,721 105 East Cambridgeshire 18,528 17,634 105 Rushcliffe 40,053 38,176 105 Torridge 31,689 30,266 105 Liverpool 1,314,214 1,256,808 105 Fife 2,290,478 2,199,548 104 Wyre Forest 56,489 54,328 104 Somerset 994,475 957,388 104 Newcastle-under- Lyme 64,592 62,310 104 West Somerset 18,980 18,344 103 Northamptonshire 1,103,229 1,066,363 103 Ribble Valley 16,665 16,152 103 Darlington 271,592 263,622 103 Wakefield 813,203 790,541 103 Wirral 750,584 732,001 103 Erewash 35,834 35,150 102 Limavady 24,060 23,653 102 Isle of Wight 360,025 354,619 102 55 Tufton Street, London, SW1P 3QL www.taxpayersalliance.com 0845 330 9554 (office hours) 07795 084 113 (24 hours) 8

3. Local authorities with the biggest long-term liabilities Local authority 31 st March 2013 (,000) 31 st March 2012 (,000) Birmingham 5,963,700 5,185,800 Leeds 3,092,489 2,929,350 Glasgow 2,779,907 2,524,213 Fife 2,290,478 1,999,953 Kent 2,247,670 2,218,625 Edinburgh 2,084,090 2,000,058 Lancashire 2,032,200 1,841,800 Sheffield 1,785,502 1,482,990 Durham 1,483,169 1,369,098 Essex 1,482,753 1,428,518 Manchester 1,467,406 1,336,332 South Lanarkshire 1,461,691 1,377,388 Bradford 1,459,331 1,420,891 Norfolk 1,436,251 1,303,130 Cornwall 1,422,593 1,287,820 4. Local authorities with the biggest long-term liabilities per resident Local authority Population 31 st March 2013, per resident ( ) Eilean Siar 26,196 8,174 Blaenau Gwent 69,822 7,789 Dumfries and Galloway 148,295 6,313 Fife 369,197 6,204 South Tyneside 148,428 6,125 Shetland Islands 22,625 5,926 Gateshead 200,153 5,534 Birmingham 1,085,417 5,494 Dundee 145,453 5,303 Inverclyde 78,915 5,228 Highland 225,110 4,931 Newcastle upon Tyne 282,442 4,837 Barnsley 233,671 4,795 Islington 211,047 4,777 West Dunbartonshire 90,324 4,775 55 Tufton Street, London, SW1P 3QL www.taxpayersalliance.com 0845 330 9554 (office hours) 07795 084 113 (24 hours) 9

5. Local authorities with biggest percentage increase in long-term liabilities Local authority 31 st March 2013 (,000) 31 st March 2012 (,000) Increase since 2012 (%) Chichester 12,850 8,674 48 Blackburn with Darwen 448,872 339,067 32 Cookstown 9,426 7,205 31 Eden 10,279 7,884 30 Blackpool 429,512 332,401 29 Shetland Islands 134,071 104,524 28 Halton 194,289 152,903 27 Derbyshire Dales 30,545 24,093 27 South Staffordshire 27,086 21,628 25 Midlothian 322,205 257,339 25 Broadland 22,114 17,711 25 Oldham 689,019 555,174 24 South Norfolk 34,573 27,886 24 Hambleton 24,661 20,034 23 Camden 983,805 800,114 23 6. Local authorities with biggest cash increase in long-term liabilities Local authority 31 st March 2013 (,000) 31 st March 2012 (,000) Increase since 2012 ( ) Birmingham 5,963,700 5,185,800 777,900 Sheffield 1,785,502 1,482,990 302,512 Fife 2,290,478 1,999,953 290,525 Glasgow 2,779,907 2,524,213 255,694 Newcastle upon Tyne 1,366,220 1,171,504 194,716 Hull 1,201,564 1,008,317 193,247 Lancashire 2,032,200 1,841,800 190,400 Croydon 1,356,012 1,171,830 184,182 Camden 983,805 800,114 183,691 Wolverhampton 1,140,000 975,500 164,500 Leeds 3,092,489 2,929,350 163,139 Barnsley 1,120,551 957,414 163,137 Liverpool 1,314,214 1,154,660 159,554 Lewisham 952,997 793,643 159,354 Southwark 1,344,153 1,185,849 158,304 55 Tufton Street, London, SW1P 3QL www.taxpayersalliance.com 0845 330 9554 (office hours) 07795 084 113 (24 hours) 10

7. Highest long-term borrowing Local authority Long-term borrowing 2012-13 (,000) Long-term borrowing 2011-12 (,000) Birmingham 2,787,200 2,617,600 Glasgow 1,440,782 1,351,708 Edinburgh 1,431,317 1,408,752 Leeds 1,292,039 1,260,256 Kent 1,023,575 1,025,805 Croydon 801,585 696,245 South Lanarkshire 793,008 789,963 Dudley 719,578 733,504 Nottingham 701,322 637,713 Highland 652,179 625,695 Sheffield 651,000 539,889 Cornwall 629,547 628,575 Fife 601,551 584,378 Southwark 554,955 462,455 North Lanarkshire 546,246 550,373 8. Biggest percentage increase in long-term borrowing Local authority Long-term borrowing 2012-13 (,000) Increase on 2011-12 (%) Wyre Forest 3,027 11,111 Stafford 2,000 910 Elmbridge 4,820 221 Halton* 60,429 49 Amber Valley 3,542 39 Midlothian* 197,993 38 Pendle 7,859 34 North Down 47,664 34 Peterborough 153,387 33 Eastbourne 34,691 32 Newcastle upon Tyne* 536,233 30 Blaenau Gwent* 92,360 26 Sheffield 651,000 21 Southwark 554,955 20 Camden 387,537 17 55 Tufton Street, London, SW1P 3QL www.taxpayersalliance.com 0845 330 9554 (office hours) 07795 084 113 (24 hours) 11

9. Local authorities with biggest cash increase in long-term borrowing Local authority Long-term borrowing 2012-13 (,000) Increase on 2011-12 (,000) Birmingham 2,787,200 169,600 Newcastle upon Tyne* 536,233 122,194 Sheffield 651,000 111,111 Croydon 801,585 105,340 Southwark 554,955 92,500 Glasgow 1,440,782 89,074 Nottingham* 701,322 63,609 Camden 387,537 57,296 Midlothian* 197,993 54,973 Northumberland* 499,760 48,543 Peterborough 153,387 38,000 Dundee 393,261 32,283 Leeds 1,292,039 31,783 Nottinghamshire 309,040 29,200 Highland 652,179 26,484 *Councils marked with an asterisk reduced their short-term borrowing by more than half of the amount by which they increased their long-term borrowing. 55 Tufton Street, London, SW1P 3QL www.taxpayersalliance.com 0845 330 9554 (office hours) 07795 084 113 (24 hours) 12

Sources and methodology The figures for long-term liabilities, long-term borrowing and long-term assets were all taken from the balance sheets from each local authority s 2012-13 statement of accounts. The figures only include liabilities and assets from council balance sheets. Figures from group balance sheets have been excluded as there was too much inconsistency in the accounts to make meaningful comparisons. Population estimates for 2012 based on the 2011 census figures were taken from: ONS 4, the General Register Officer for Scotland 5 and the Northern Ireland Statistics and Research Agency 6. The figures are available in the full data tables available through the link on page 5. Population figures for lower tier authorities have been excluded from regional totals to avoid double-counting. In some instances, local authorities reported a large increase in their long-term borrowing and a large decrease in their short term borrowing. This was possibly the result of borrowing classified as long-term in 2011-12 coming due in 2012-13 and being refinanced with further long-term borrowing. Instances where short-term borrowing decreased by more than half of the amount by which they long-term borrowing increased have been marked with an asterisk. The City of London and the Greater London Authority were excluded from the tables showing the councils with the highest long-term liabilities and long-term borrowing due to their unique natures 4 http://www.ons.gov.uk/ons/publications/re-reference-tables.html?edition=tcm%3a77-319259 5 http://www.gro-scotland.gov.uk/statistics/theme/population/projections/sub-national/2010-based/tables.html 6 http://www.nisra.gov.uk/archive/demography/population/midyear/mye_2012_report.pdf 55 Tufton Street, London, SW1P 3QL www.taxpayersalliance.com 0845 330 9554 (office hours) 07795 084 113 (24 hours) 13