Thurrock council admits disastrous investments caused £500m deficit - short news
Tory-led Essex authority is on brink of bankruptcy and has appealed to government for emergency bailout
A Tory-led council has admitted a series of disastrous investments in risky commercial projects caused it to run up an unprecedented deficit of nearly £500m and brought it to the brink of bankruptcy.
The staggering scale of the catastrophe at Thurrock council in Essex – one of the biggest ever financial disasters in local government – is contained in an internal report..
source: The Guardian - 29.11.2022