Section 300 | Increase in limit for local loans

(1)In section 4(1) of the National Loans Act 1968 (local loans granted by the Public Works Loan Commissioners)—

(a)for “£55,000 million” substitute “ £85 billion ”, and

(b)for “£70,000 million” substitute “ £95 billion ”.

(2)The Local Loans (Increase of Limit) Order 2008 (S.I. 2008/3004) is revoked.

(3)This section comes into force on such day as the Treasury may by order made by statutory instrument appoint.