In fact, six debt-free new towns have huge infrastructure problems.
He wrote of their being married, and then he said that they waited until a debt-free home could be prepared.
The way in which resources are allocated to new towns, especially those that are debt-free, involves a bizarre mechanism called negative subsidy.
Some authorities happen to be debt-free because of good fortune, not good financial management.
As is conventional, this valuation was done on a debt-free/cash-free basis.
Like its predecessor, the amendment would make it impossible for capital receipts received by debt-free authorities to be brought within the pooling mechanism.
Finally, we have recognised the level of concern expressed by debt-free authorities about the introduction of pooling.
He is of course right, but it was also built with borrowings which, by definition, debt-free authorities have repaid.
