Isle of Wight Council has insisted it borrows to invest in essential projects after revealing its debt amounts to 42% of the authority’s annual budget.
The council owes £162.9m in long-term loans despite planning to spend around £384m on services this year.
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
