District Council borrowing goes up by £3m

Quite a story as reported by the Herald about the state of our local finances:

 

District council has £86.8 million in outstanding loans to pay

The amount the authority has borrowed has also increased by £3million in just one year.

The Chartered Institute of Public Finance and Accountancy says delivery of public services could be put at risk by unsustainable borrowing, after debt among UK local authorities rose to more than £100 billion.

By the end of December, EDDC’s outstanding loans stood at £86.6 million, according to figures from the Ministry of Housing, Communities and Local Government.

District council has £86.8 million in outstanding loans to pay

 

However, Cllr Cathy Gardner says that the Press Release that The Herald is working from may be misleading, see her comment on our Facebook page

   
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