firlandsfarm wrote: ↑Sat Sep 09, 2023 4:19 pm
... A good example of how not to do the balance sheet!
Mind you, rather that than the one billion splaffed by Boris on vanity projects whilst major of london: garden bridge, orbit tower, routemaster buses, cycle scheme etc, etc...
PS: not sure you can classify an equal pay claim as a "vanity" project!
And wouldn't want to forget the enormous economic damage to the whole country done by boris & truss following brexit.
And in the interest of balance we have:
Northamptonshire County Council
The first authority to declare bankruptcy in the two decades following Hackney, the Conservative-run Northamptonshire County Council was forced to issue a section 114 notice after years of financial mismanagement that resulted in debts of close to £1 billion.
Note: this did not include an equal pay claim, it was just incompetence.
Thurrock Council
According to a blistering government-commissioned review, Tory-led Thurrock Council gambled hundreds of millions of pounds on risky commercial investments, while attempting to silence critics. Forced to grapple with a £500 million deficit in late 2022, Thurrock was the fourth council to issue a section 114 notice following Northamptonshire County Council.
Note: this did not include an equal pay claim, it was just incompetence.
Woking Council
Recently taken over by the Liberal Democrats in May’s by-election, Woking Council declared its effective bankruptcy following a series of risky investments in hotels and skyscrapers under the previous Conservative administration. The Surrey-based local authority issued a section 114 notice in response to “unpredicted financial challenges” after it revealed it faced a deficit of £1.2 billion.
Note: this did not include an equal pay claim, it was just incompetence.