Mark Conrad 05 July 2022

Talks held over council's debt concern

Talks held over councils debt concern image

Woking BC has held ‘positive and constructive’ talks with the Government amid ministerial concerns about the sustainability of the authority’s debts.

The council admitted its debt levels were relatively high due to £1.8bn in loans, including £700m for its Victoria Square development.

However, the council said its loans were primarily from the Public Works Loan Board, involve low and affordable interest rates, and that most projects would generate future income.

Woking chief executive Julie Fisher said the council was ‘working with the Department for Levelling Up, Housing and Communities (DLUHC) to assist them in understanding our local borrowing and investment practices’.

Local government minister Kemi Badenoch wrote to Woking and seven other English local authorities in mid-May expressing departmental concerns about ‘disproportionate levels of debt’ and ‘commercial investments’.

A DLUHC spokesperson said: 'Taxpayers expect us to take action to stop councils from building up excessive debt. 

'We will continue to engage with councils to make sure they are supported.'

SIGN UP
For your free daily news bulletin
Highways jobs

Support Worker

Wakefield Council
£14,299.00 to £15,768.50 pro rata. Grade 6
We are recruiting self-motivated and enthusiastic support workers, providing care and support to adults with learning disabilities. Wakefield, West Yorkshire
Recuriter: Wakefield Council

Senior Social Worker

Wakefield Council
£41,511.00 to £44,711.00, Grade 10
We are an ambitious and high achieving council, committed to continuous improvements and innovation. Wakefield, West Yorkshire
Recuriter: Wakefield Council

Business Support Officer WMF2273e

Westmorland and Furness Council
£25,989
A key aspect of the Business Support role involves communicating with both members of the public and professionals Kendal, Cumbria
Recuriter: Westmorland and Furness Council

Domestic - Older Adults - WMF2283e

Westmorland and Furness Council
£24,413 (pro rata)
The role of a Domestic is more than just a job, it makes a huge difference to the wellbeing of our residents Barrow in Furness, Cumbria
Recuriter: Westmorland and Furness Council

Participation Officer - WMF2286e

Westmorland and Furness Council
£34,434 - £35,412
Childrens Services Quality, Resources & Transformation team is seeking to appoint to a Participation Office Penrith, Cumbria
Recuriter: Westmorland and Furness Council
Linkedin Banner