Council raises borrowing limit by £150m

By Hiba Mahamadi | 11 August 2017

Torbay Council has dismissed fears after increasing its borrowing limit from £50m to £200m to help cover a £5m black hole. 

In a council meeting this week, mayor Gordon Oliver's proposal to raise the limit by only £50m was overruled by a two-thirds majority who voted in favour of raising the limit by £150m.

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