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CIPFA's Prudential Code for Capital Finance in Local Authorities (Prudential Code) was introduced in 2004. Local authorities are required to “have regard” to it when developing their capital investment plans. Since then, the landscape for local government has changed significantly following the sustained period of reduced public spending and the developing localism agenda. This is therefore now an appropriate time for the Prudential Code to be reviewed and views sought as to areas where it can be strengthened or amended. So CIPFA has issued The Prudential Code for Capital Finance in Local Authorities Consultation (PDF 395 KB). The accompanying Pro-Forma Response Sheet (Word 60 KB) should be downloaded to submit your response.
The closing date for responses is 21 April 2017. When CIPFA has considered the responses there will be a further formal consultation on our proposals.