Council raises borrowing limit by £150m

By Hiba Mahamadi | 11 August 2017
Updated: 17 August 2017

Torbay Council has dismissed fears after increasing its borrowing limit from £50m to £200m to help cover a £5m black hole. 

In a council meeting this week, mayor Gordon Oliver's proposal to raise the limit by only £50m was overruled by a two-thirds majority who voted in favour of raising the limit by £150m.
 
 

Want full article access?


Receive The MJ magazine each week and gain access to all the content on this website with a subscription.

Full website content includes additional, exclusive commentary and analysis on the issues affecting local government.

`

Already a subscriber? Login

Business Finance
Top
more..