
1 
These Regulations may be cited as the Local Authorities (Capital Finance) (Rate of Discount for 1998/99) Regulations 1998 and shall come into force on 1st April 1998.
2 
The percentage rate of discount prescribed for the financial year beginning on 1st April 1998 for the purposes of defining “r” in section 49(2) of the Local Government and Housing Act 1989 shall be 8.8 per cent.
Signed by authority of the Secretary of State for the Environment, Transport and the Regions.
Hilary Armstrong
Minister of State,
Department of the Environment, Transport and the Regions
2nd March 1998Signed by authority of the Secretary of State for Wales.
Win Griffiths
Parliamentary Under-Secretary of State, Welsh Office
3rd March 1998