Paul Marinko 15 September 2023

Spelthorne confident of financial strength

Spelthorne confident of financial strength image
Image: Number1411 / Shutterstock.com.

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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If this article was of interest, then check out our features, 'Preventing future Section 114 notices' by Joanne Pitt, Local Government Policy manager at CIPFA, and 'Intervening at the local level' by Nick Graham, director for Legal & Democratic Services at Buckinghamshire Council.

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