Treasury and Department for Communities and Local Government officials are reviewing investments in land and buildings by local authorities, accumulated using low-cost loans provided by the Public Works Loans Board.
Preliminary figures indicate that local authority spending on land and buildings rose to £2.8bn in the latest year, from £1.2bn in 2015-16.
While some of the spending is local, some local authorities are investing irrespective of location. Most of it is thought to be commercial property.
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