Auditors have suggested an overhaul of council borrowing and investment rules may be needed after ‘alarm bells’ were triggered by billions of pounds of spending.
A report by the National Audit Office (NAO) today urged the Government to look at the framework under which councils buy property to generate income as a senior MP warned of local authorities ‘acting as investment bankers’.
Want full article access?
Receive The MJ magazine each week and gain access to all the content on this website with a subscription.
Full website content includes additional, exclusive commentary and analysis on the issues affecting local government.
Already a subscriber? Login