Changes to the Capital Finance System: Capital Finance Amendment Regulations Minimum Revenue Provision Guidance

Published	22 November 2007
Closing date	21 December 2007
Type(s)	Consultation documents, Circulars and official letters
Site	Local government
Price	Free

Summary

Communities and Local Government is considering changes to the Capital Finance System, mainly coming into effect in the current financial year.

The main changes relate to:

Minimum Revenue Provision (MRP). Regulation 4(1) together with the proposed guidance will simplify the regime; and regulation 4(2) will resolve problems relating to past MRP errors.
New accounting changes. Regulations 6 will protect authorities from possible adverse revenue impacts relating to existing stepped interest rate loans and guarantees (but not transactions entered into after the date of 8 November 2008 - see Annex A paragraphs 6.6 and 6.10).

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Local Government Capital Finance System - Proposed Amendments to Regulations (external link)
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