Cornwall Council’s debt has reached over £1 billion, making it one of the UK’s most indebted councils, facing tough financial challenges and potential job losses.
Cornwall: Cornwall Council is now one of the most indebted councils in the UK. It owes over £1.3 billion, making it the fifth largest local authority in England.
Overall, the 20 most indebted councils in the UK owe more than £30 billion. Birmingham City Council tops the list with £3.4 billion in debt, followed by Leeds and Woking.
Since 2021, the Conservative administration in Cornwall has struggled with funding from the central government. This has made it hard to manage essential services like social care and school transport.
To cope with its financial situation, the council plans to raise council tax by 4.99% for the third year in a row. This increase aims to support a budget of £828.866 million for 2025/26.
Due to its financial troubles, Cornwall Council announced 100 job losses and may sell off 2,000 land and building assets. They are also considering privatizing some car parks and closing adult education centers.
A council spokesperson stated that they are working hard to balance their budget while managing multiple financial pressures. They emphasized that borrowing is used for essential public services like housing and infrastructure.
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