
1 
These Regulations may be cited as the Local Authorities (Capital Finance) (Rate of Discount for 1997/98) Regulations 1997 and shall come into force on 1st April 1997.
2 
The percentage rate of discount prescribed for the financial year beginning on 1st April 1997 for the purposes of defining “r” in section 49(2) of the Local Government and Housing Act 1989 shall be 8.9 per cent.
Signed by authority of the Secretary of State for the Environment
David Curry
Minister of State,
Department of the Environment
17th February 1997Signed by authority of the Secretary of State for Wales
Gwilym Jones
Parliamentary Under Secretary of State, Welsh Office
17th February 1997