Scottish councils 'spend hundreds of millions' on servicing debts

Scottish councils 'spend hundreds of millions' on servicing debts
 

Councils are spending hundreds of millions of pounds servicing their debts, according to the Scottish Greens.
An analysis for the party found that Scotland's 32 councils owe £11.5bn between them.
The money is owed to banks and a scheme set up by the UK Treasury.
A typical council spends the equivalent of 42% of its council tax money servicing the debts, the research indicated.
One council - Comhairle nan Eilean Siar (Western Isles Council) - spends more servicing its debts than it raises in council tax locally, although the authority told BBC Scotland its financial arrangements were... read more

 
16 November 2016 in Regional, Views: 48
Source: BBC
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