ECONOMIC GROWTH

Councils urged to invest in capital reserves

Councils can help address funding problems for businesses by investing capital reserves locally, a councillor has urged.

Local government can help address funding problems for small and medium-sized businesses by investing capital reserves locally, a councillor has urged.

Preston City Council's cabinet member for resources, Cllr Martyn Rawlinson, made his comments after his authority agreed to move up to £500,000 of its savings out of international banks in a bid to support small local capital projects and unlock wider economic growth.

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