3 hours ago

Surrey Councils Face Financial Turmoil Amid Woking's Debt Crisis

Surrey Councils Face Financial Turmoil Amid Woking's Debt Crisis
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7 Highlights
  • Woking faces over £2bn debt due to a failed investment strategy in 2023.
  • Surrey councils may be restructured, affecting smaller councils like Tandridge.
  • Woking sells assets to manage debt, including public services and properties.
  • Council tax in Woking rises 10% to help balance the budget post-bankruptcy.
  • Government offers support framework for Surrey councils in financial trouble.
  • Tandridge opposes inheriting Woking's debt amid financial recovery efforts.
  • Surrey leaders call for Woking's debt to be written off amid financial strain.
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