Spelthorne BC has struck a defiant note over its level of debt on the back of another Surrey council warning of potential bankruptcy.
With Surrey Heath BC - the council covering local government secretary Michael Gove’s constituency - earlier this week highlighting its financial vulnerability, nearby Spelthorne said it was ‘categorically’ not at risk of following suit.
Despite the small South East borough investing around £1bn in property, the council said it was generating ‘approximately £50m return every year from its commercial portfolio’.
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