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FINANCE

Town halls forced to sell community assets as debts mount

Local authorities across the UK are selling off public assets – such as schools and care homes – to try and reduce a collective debt of £122bn.

© jd8 / Shutterstock

Local authorities across the UK are selling off public assets – such as schools and care homes – to try and reduce a collective debt of £122bn.

The combined debts of councils grew by 7% last year and is now equivalent to £1,700 per UK resident, according to research by the BBC.

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