Trafford Council is set to receive an interest-free loan from the Greater Manchester Combined Authority (GMCA) to address a multi-million-pound budget gap.
The financially struggling local authority has seen its deficit increased by £24m under the Government’s fair funding review.
While it was awarded £12.65m in exceptional financial support by the Government in February, it still needs support from the GMCA’s new loan scheme.
The initiative to make interest free loans available to councils in the combined authority’s area was launched last Friday (27 March). Trafford Council is the only authority to date to qualify.
Mayor of Greater Manchester Andy Burnham told the Manchester Evening News that the policy showed the city region ‘approaches politics together, place first, not party first’.
