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Tuesday, 9 March 2021

Croydon is to receive a £120m bailout from the government, after it almost went bankrupt

When the council stopped all non-essential spending in November, they were predicted to overspend by £60m.

That’s now risen to nearly £97m.

The authority will receive £70m this year, and £50m next year, if they keep to the conditions, such as sticking to their improvement plan.

Croydon says the money will allow them to deliver a balanced budget, something they’re legally required to do.

posted by Radio Jackie News Team @ 11:04 am  

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