England's local councils are facing a financial crisis with outstanding loans for investment projects amounting to £95 billion. Woking, for example, has borrowed £2.4 billion compared to its net budget of £24 million. The UK government is considering giving local councils more leeway to sell assets to prevent bankruptcies, a move criticized by a Treasury minister. The government is quietly advancing plans to loosen council budget rules to allow mass asset sales, while a minister urges councils to drain reserves to avert bankruptcy.
UK minister urges councils to drain reserves to avert bankruptcy https://t.co/iAl6TntVe0 via @tomelleryrees https://t.co/Cy9K6nklGK
Scoop from @tomelleryrees >> Govt is quietly working on plans to let councils sell off assets to stave off a wave of bankruptcies https://t.co/MvzExBMPY1
UK minister warns councils on asset sales despite proposed rules https://t.co/9W2YqWPnVp via @tomelleryrees https://t.co/cirttlVeNp
A UK Treasury minister cautioned councils against selling assets even as the government proposes to loosen budget rules to help boost the finances of struggling town halls https://t.co/8kWS8KWAUl
The UK government may give local councils more leeway to sell assets, a policy dubbed selling the "family silver" to ward off bankruptcy via @tomelleryrees https://t.co/ISvayDt3IL
Exclusive from us this morning. The government is quietly advancing plans for a major loosening of council budget rules to allow them to sell assets en masse to avert a wave of bankruptcies https://t.co/A8RQJB7wh2
UK may relax rules on council asset sales to avert bankruptcies https://t.co/MV4LhhjMCz via @tomelleryrees https://t.co/612SdDROrt
The UK government may give local councils more leeway to sell assets, a policy dubbed selling the "family silver" to ward off bankruptcy https://t.co/DDs07jw2N0
THe UK government may give local councils more leeway to sell assets, a policy dubbed selling the "family silver" to ward off bankruptcy https://t.co/53rOZ28vzn
England’s local councils face financial crisis >> deep dive from @tomelleryrees — £95 billion of loans outstanding for investment projects — case study of Woking, which has borrowed £2.4 billion compared to its net budget of £24 million https://t.co/4KkUsLdfpA
England’s local councils are reeling from a financial crisis https://t.co/HGv4wsCeWb via @tomelleryrees https://t.co/QVVjaRJ1SS
New from me in @Politics_co_uk. Some explain away local government's financial crisis with poor local management. But it's too easy to forget the consequences of poor management from Whitehall - made worse by how overcentralised the system is. https://t.co/zKn6Vdyiqo