Title

FINANCE

Medway requests emergency loan

Medway Council has asked the Government for an emergency loan to help the struggling local authority avoid effective bankruptcy.

Medway Council has asked the Government for an emergency loan to help the struggling local authority avoid being forced to declare effective bankruptcy.

The council, which is facing a £35.8m budget gap in 2024-25 and needs to find £12m for the current financial year, requested to borrow up to £14.6m in 2024-25 and a further £16.2m in 2025-26, and has also published proposals to increase parking charges and end a free swimming programme.

A council-commissioned report from the Chartered Institute of Public Finance and Accountancy (CIPFA) warned Medway was 'in a grave situation in relation to its financial sustainability'.

The Government has refused permission to allow Medway to increase council tax above the 4.99% limit.

Council leader Vince Maple said: ‘It is absolutely critical that we act now to bring the council back into long-term financial health.

‘If the Government supports our request for borrowing and if this important decision is agreed through the cabinet and full council processes, as well as putting in place the improvement plan outlined by CIPFA, it will help us head in the right direction towards becoming financially sustainable.'

FINANCE

Experts' warning over Exceptional Financial Support

By Dan Peters | 07 October 2025

Council finance experts have urged the Government to ensure that Exceptional Financial Support (EFS) remains temporary and does not become ‘embedded in the p...

FINANCE

Beyond winning and losing: leadership lessons for LGR

By Max Wide | 01 October 2025

Max Wide explores the leadership choices posed by reorganisation and reflects on how collaboration, cultural integration and private sector insights can help...

FINANCE

Dear secretary of state – part 2

By Steve Leach | 01 October 2025

As the new secretary of state Steve Reed settles into his new role, Steve Leach and Colin Copus tell him that now is not a good time for a ‘disruptive, expen...

FINANCE

Streeting announces care worker pay boost

By Dan Peters | 30 September 2025

Health secretary Wes Streeting has announced plans to boost pay for care workers from 2028, backed by an initial £500m of funding.

Popular articles by William Eichler