To ask Her Majesty's Government whether they have received a request from the Mayor of the Sheffield City Region (1) to increase the borrowing requirement of that Region, and (2) to use future share gain as a way of paying back debt; and what assessment they have made of any such request.
28 April 2021
Sheffield City Region Combined Authority is currently able to borrow in relation to its functions as a transport authority. The ability to borrow in relation to all functions is subject to the agreement of a debt cap with HM Treasury, which Sheffield City Region have requested following the full implementation of their devolution deal. These borrowing capabilities are consistent with those available to other Combined Authorities.
HM Treasury will make an assessment of Sheffield City Region’s borrowing plans to inform discussions on any debt cap.