At least 26 councils in some of Britain’s most deprived areas are at risk of effective bankruptcy within the next two years, according to a leading local government group, which says many authorities simply have “nothing left”.
Britain’s local government network has been shaken by a string of financial collapses in the past two years, starting with Slough and followed by Croydon, Thurrock and most recently Woking, which announced a deficit of £1.2bn in June after a risky investment spree.
