Woking council has declared it is effectively bankrupt after admitting a risky investment spree involving hotels and skyscrapers overseen by its former Conservative administration had left it facing a deficit of 1.2bn.The Surrey council, the most heavily indebted local authority in England, said it had issued a section 114 notice on Wednesday in response to unprecedented financial challenges facing the town.
#years #information #effectively #transparency #investments #privacy-policy #local-elections #skyscrapers #top-stories #newsletters
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