Tory-run Northamptonshire county council bailed out by government

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Permission granted to spend £60m cash received from sale of HQ

The government has in effect bailed out Tory-run Northamptonshire county council after giving it unprecedented permission to spend up to £60m of cash received from the sale of its HQ on funding day-to-day services.

The highly unusual move – accounting rules normally prevent councils using capital receipts in this way – means the crisis-hit authority is likely to escape falling into insolvency for the third time in less than a year.

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from The Guardian https://ift.tt/2ShAlm3

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