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One by one, England’s councils are going bankrupt – and nobody in Westminster wants to talk about it
(www.theguardian.com)
this post was submitted on 15 Jan 2024
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Councils were strongly encouraged to borrow money to invest, with the strong hint to them that investments that returned profit would be able to replace government shortfalls.
Some councils did it because they were backed into a corner, others were led by impossibly shit idiots.
But the outcome is, a large number of those investments did not pay off, and those councils are now faced with failed investments, the bill, and still not having enough because of the cuts.