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<p>Each combined authority remains responsible for its own borrowing. The prudential
borrowing regime provides that an authority can borrow lawfully only if it can demonstrate
that servicing and repayments of the debt are affordable. Mayoral combined authorities
have annual maximum debt caps in place, agreed with HM Treasury, which can be reviewed
if the need arises, and for the West Midlands:</p><table><tbody><tr><td><p>2018-19</p></td><td><p>2019-20</p></td><td><p>2020-21</p></td></tr><tr><td><p>£546,744,807</p></td><td><p>£783,049,523</p></td><td><p>£1,041,974,844</p></td></tr></tbody></table><p>
</p><p>Figures published by the Ministry for Housing, Communities and Local Government
detail outstanding debt on a quarterly basis for each local authority and combined
authority, available at:</p><p><a href="https://www.gov.uk/government/statistical-data-sets/live-tables-on-local-government-finance"
target="_blank">https://www.gov.uk/government/statistical-data-sets/live-tables-on-local-government-finance</a></p><p>
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