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| Version 1 | Version 2 |
|---|---|
| Bankrupt Thurrock Council asks for £636m bailout and tax hike | Bankrupt Thurrock Council asks for £636m bailout and tax hike |
| (4 months later) | |
| Thurrock Council issued a section 114 notice in December effectively declaring bankruptcy | Thurrock Council issued a section 114 notice in December effectively declaring bankruptcy |
| A council that is effectively bankrupt is in talks with government to borrow up to £636m to help balance its books. | A council that is effectively bankrupt is in talks with government to borrow up to £636m to help balance its books. |
| Thurrock Council in Essex has a £1.5bn debt following a series of high-risk investments. | Thurrock Council in Essex has a £1.5bn debt following a series of high-risk investments. |
| The Conservative-run unitary local authority is also due to find out whether Westminster will allow it to increase council tax by more than 5%. | The Conservative-run unitary local authority is also due to find out whether Westminster will allow it to increase council tax by more than 5%. |
| The Labour opposition leader said the government loan would only serve as a "sticking plaster". | The Labour opposition leader said the government loan would only serve as a "sticking plaster". |
| Conservative cabinet member for finance Graham Snell said the council would like to increase its share of tax from residents | Conservative cabinet member for finance Graham Snell said the council would like to increase its share of tax from residents |
| Thurrock has asked for an initial £182.5m from the Treasury to prop up its budget for 2023-24. | Thurrock has asked for an initial £182.5m from the Treasury to prop up its budget for 2023-24. |
| The loaned funds would end up accounting for 57% of its spending. | The loaned funds would end up accounting for 57% of its spending. |
| The council however hoped to recoup at least £475m from the solar farms it started purchasing in 2018. | The council however hoped to recoup at least £475m from the solar farms it started purchasing in 2018. |
| An initial government loan of £182.5m would account for 57% of budget spending next year in Thurrock, including for bin collections, pictured in Tilbury | An initial government loan of £182.5m would account for 57% of budget spending next year in Thurrock, including for bin collections, pictured in Tilbury |
| Last year, the Conservative government's Chancellor of the Exchequer, Jeremy Hunt, said councils could only increase their share of tax on residents by 4.99%, but an exception was expected to be made for Thurrock. | Last year, the Conservative government's Chancellor of the Exchequer, Jeremy Hunt, said councils could only increase their share of tax on residents by 4.99%, but an exception was expected to be made for Thurrock. |
| The council's cabinet member for finance, Graham Snell, said: "There's no point beating around the bush with that; we would be prepared to go above the 5% should the government allow us to do that." | The council's cabinet member for finance, Graham Snell, said: "There's no point beating around the bush with that; we would be prepared to go above the 5% should the government allow us to do that." |
| Thurrock has the largest funding deficit of any local authority in England. | Thurrock has the largest funding deficit of any local authority in England. |
| About 450 people attended the Thameside Theatre in Grays in December to watch Russell Brand, who grew up locally, campaigning over the venue's future | About 450 people attended the Thameside Theatre in Grays in December to watch Russell Brand, who grew up locally, campaigning over the venue's future |
| The £636m bailout figure being discussed with government was revealed at an overview and scrutiny committee meeting at Thurrock on Thursday. | The £636m bailout figure being discussed with government was revealed at an overview and scrutiny committee meeting at Thurrock on Thursday. |
| Labour opposition leader John Kent said: "This is only forestalling the day when you actually have to do something decisive to solve this problem. | Labour opposition leader John Kent said: "This is only forestalling the day when you actually have to do something decisive to solve this problem. |
| "These sticking plasters just won't do." | "These sticking plasters just won't do." |
| Mr Kent said he was worried the council would sell its assets, such as scout halls and community halls, and he asked that they be transferred to community ownership. | Mr Kent said he was worried the council would sell its assets, such as scout halls and community halls, and he asked that they be transferred to community ownership. |
| A decision is yet to be made over the ownership of the Thameside complex in Grays, which includes a 300-seat theatre, museum, community space and library. | A decision is yet to be made over the ownership of the Thameside complex in Grays, which includes a 300-seat theatre, museum, community space and library. |
| Find BBC News: East of England on Facebook, Instagram and Twitter. If you have a story suggestion email eastofenglandnews@bbc.co.uk | Find BBC News: East of England on Facebook, Instagram and Twitter. If you have a story suggestion email eastofenglandnews@bbc.co.uk |
| Related Topics | Related Topics |
| Thurrock Council | Thurrock Council |
| Stanford-le-Hope | Stanford-le-Hope |
| Council tax | Council tax |
| Grays | Grays |
| Purfleet | Purfleet |
| Tilbury | Tilbury |
| Local government | Local government |
| Essex |