Plymouth reaches impasse with auditor

By Martin Ford | 30 August 2023

Auditors could issue a qualified opinion on Plymouth City Council’s accounts after questioning its methods to pay off a multi-million pound pension deficit.

The council used the Public Works Loan Board to buy £70m of shares in a specifically-designed company in 2019, which then used the funds to reduce the pension fund deficit, saving money in the long run.

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Finance Pensions Audit Loans