A council in Surry has effectively declared bankruptcy with a £1.2 billion deficit in its budget owning to debt inherited from previous property sprees. Woking Borough Council issued a section 114 notice (pdf) on Wednesday, halting all expenditure except essential spending, such as salaries and pensions for existing staff and fundings for delivering a minimum level…
Warning of Bumper Council Tax Rises to Meet UK Government Promises
Council tax in Britain may need to rise by up to 5 percent a year for the next three years to keep services running and pay for social care reforms, an influential think tank has warned. The Institute for Fiscal Studies (IFS) said that under current government spending plans, a rise of at least 3.6…
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