Alarm bells over £6.6bn property spending spree

By Martin Ford | 13 February 2020

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’.

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