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SPENDING OF CAPITAL RECEIPTS HAS BEEN MIXED SUCCESS

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The mixed results from last year's temporary approval for local authorities to spend their capital receipts is disc...
The mixed results from last year's temporary approval for local authorities to spend their capital receipts is discussed in The Independent (p31).

New schools are being built, old peoples homes refurbished and council houses renovated thanks to the initiative.

However, the conclusion is that whilst many councils have enjoyed the new freedom, they now find they have lost their ability to borrow as a result of selling off assets, the paper reports.
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