The failure to meet best value duty has forced the government to step up its intervention in the London Borough of Croydon, giving the independent panel a statutory footing.
Financial woes at the London Borough of Croydon could worsen if it cannot write off more than half of billion pounds of maturing loans, as high interest rates look set to add millions to its costs.
Concerns over a “completely unsustainable” financial position have forced the London Borough of Croydon to request additional government support, including the write-off of more than £500m of debt.
Allowing three struggling local authorities to raise council tax beyond the normal limit only pushes the cost of their failure onto residents, experts have said.
London’s Croydon Council cannot balance its 2023-24 budget without help from the government, its Section 151 officer has said as she issued the authority’s third Section 114 notice in 24 months.
London Borough of Croydon has provisionally appointed a new permanent Section 151 officer, as it narrows down the field of candidates to fill a separate £100,000+ a year commercial investment...
A Scottish local authority has adopted a checklist for assessing prospective loans to other councils after receiving negative publicity over lending to the struggling London Borough of Croydon.
