Capitalisation directions reward councils that are financially failing with the ability to raise taxes and borrow more - lumping future generations with a legacy of both inherited debt and decades of underfunded services, says Heather Jameson.
The latest round of capitalisation directions – covering 19 councils and £2.5bn – is an eye-watering testament to the state of local government finance.
Despite what the national media would have you believe, this is not a government bailout. Michael Gove is not putting his hand into Treasury pockets and pulling out wads of cash to solve the sector's financial crisis.
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