Dan Peters 01 November 2023

Call for Government write off of Croydon debt

The Government should write off Croydon LBC’s £1.3bn of General Fund debt, a senior opposition councillor has urged.

Chair of the council’s scrutiny and overview committee, Rowenna Davis, said that if this was ‘unpalatable’ to Government it should ‘bundle up’ the council’s debt, allowing Croydon to pay it back with a low interest rate over ‘many years’.

She said: ‘The people paying for these mistakes are the Croydon taxpayers who haven’t done anything wrong.’

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#Debt #Funding #Finance #Budgets and efficiency

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