Thurrock Council set to borrow nearly £850m to repay solar farm debts
OCTOBER 6, 2022
tags: solar power
By Paul Homewood
h/t Joe Public
This scandal has been brewing up for years:
A council has been given permission to borrow nearly £850m from the government so it can pay back loans to other local authorities.
Thurrock Council’s investments were meant to make money to pay for services but it has been reported recently that they made losses.
It will borrow £836m in weekly instalments from the Public Works Loan Board (PWLB) up until 16 March, 2023.
Of this, £678.5m will be repaid to other local authorities.
Last month, the government appointed a commissioner to take over the Tory-run unitary council due to its level of financial risk and debt.
https://notalotofpeopleknowthat.wordpress.com/2022/10/06/thurrock-council-set-to-borrow-nearly-850m-to-repay-solar-farm-debts/
