
1 
These Regulations, which extend to England only, may be cited as the Local Authorities (Capital Finance) (Rate of Discount for 2002/03) (England) Regulations 2002 and shall come into force on 1st April 2002.
2 
The percentage rate of discount prescribed for the financial year beginning on 1st April 2002 for the purposes of defining “r” in section 49(2) of the Local Government and Housing Act 1989 shall be 7.2 per cent.
Signed by authority of the Secretary of State for Transport, Local Government and the Regions
Nick Raynsford
Minister of State,
Department for Transport, Local Government and the Regions
23rd January 2002