Mike Yuille 08 March 2022

Slough given conditions for £300m bailout

Slough given conditions for £300m bailout image
Image: Cmspic / Shutterstock.com

Slough Council will only be considered for a £307m Government bailout to cover its deficits if it proves it can turn itself around financially, the Department for Levelling up, Housing and Communities (DLUHC) has warned.

The conditions include creating an improvement plan, and showing progress in selling assets, reducing debt and meeting savings targets.

DLUHC has also told Slough to draw up an action plan for achieving financial sustainability and closing its long-term budget gap.

In a letter this week to Slough leader James Swindlehurst, local government minister Kemi Badenoch accused the council of ‘serious failings’.

However, she also thanked Cllr Swindlehurst for his ‘openness’ about the situation and the ‘commitment you have made to the improvements needed’.

The extent of Slough’s financial problems emerged last year, with the Government sending in commissioners.

Ms Badenoch said levelling up secretary Michael Gove was ‘minded to approve’ Slough’s request for a capitalisation worth £307m to cover five years from 2018-19 to 2022-23.

However, she added Slough would have to demonstrate ‘significant ongoing progress’ in delivering against an improvement plan to secure another £171m for the five years up until 2027-28.

Separately, DLUHC has welcomed progress by Croydon LBC and said it would grant its request for a £75m capitalisation direction for the years 2021-22 and 2022-23.

However, on Nottingham City Council, Ms Badenoch said: ‘It is clear the council continues to face many challenges as it seeks to address its past failings.’

SIGN UP
For your free daily news bulletin
Highways jobs

Casual Early Years Practitioner

North East Lincolnshire Council
£24,796 FTE
Do you have a passion for delivering high quality care and guidance? North East Lincolnshire
Recuriter: North East Lincolnshire Council

Trainee Trading Standards Officer

North East Lincolnshire Council
NJC11 - £28,142
If you’re someone who’s curious, community-minded and keen to make a real difference, this could be the perfect opportunity for you. North East Lincolnshire
Recuriter: North East Lincolnshire Council

Communications Support Officer - Children's Fostering Team

North East Lincolnshire Council
£25,583
Create content with heart and soul to make a real, lasting difference North East Lincolnshire
Recuriter: North East Lincolnshire Council

Oracle Systems Administrator

The Royal Borough of Kensington & Chelsea Council
£51429 - £58140 per annum
Help shape the backbone of our services - and build smarter systems for a stronger borough.Help shape the backbone of our services - and build smarter England, London
Recuriter: The Royal Borough of Kensington & Chelsea Council

Health & Safety Advisor

Wakefield Council
£39,152.00 - £41,771.00, Grade 9, 37 hours, Permanent
Wakefield Council’s Health & Safety team now have an exciting opportunity for a Health & Safety Adviser. Wakefield, West Yorkshire
Recuriter: Wakefield Council
Linkedin Banner