19 April 2002
The Debt Management Office, which oversees the scheme – the Debt Management Account Deposit Facility – said this week there was still room for councils to join the pilot.
The pilot, which began on April 2, is expected to last six months.
A spokesman for the DMO said some town halls had already joined up. 'There has been some activity. People have taken advantage of the facilities, although it remains early days,' he said.
How many councils have signed up and the amount of money they have placed remains unknown.
The DMO, which is housed in the Treasury, refused to reveal any figures for the number of transactions completed or even the number of councils involved.
If the scheme is successful it could be extended beyond the six months.
PFapr2002
