External commissioners to take charge of finances amid ‘grave concerns’ local services could be at risk
The government has launched an urgent investigation into the finances of a Tory-run council amid “grave concerns” that local services are at risk from the authority’s exposure to more than a billion pounds in loans it took out to fund a series of commercial investments.
The communities secretary, Greg Clark, said government-appointed commissioners would take full control of Thurrock’s finances because of fears over “the exceptional level of financial risk and debt incurred by the council”.
Continue reading…
