"UK local authorities are £122bn in debt, with much of it owed to lenders and one council owing £2.9bn alone, according to BBC analysis. Councils owe £97.8bn to lenders, analysis of data from the Department for Levelling Up, Housing and Communities has revealed, or £1,455 per resident, as of September last year.
Meanwhile some of the corporate councils are paying back on the massive sums owed, sums which should never have been 'borrowed' from the banks in the first place.
"However, the council managed to pay off £73.4m last year, meaning as of March 31, the sum owed reduced from £651.5m to £578.1m."
The fraudulent debt levels have been increasing steadily, compared to the LOBO loan charts previously posted. Many corporate councils have only just managed to pay the interest on the debts, while their executives enjoy huge pay scales, bonuses, expenses, redundancy settlements & copper-bottomed pensions (30+% of all Council Tax).
When enough of local inhabitants realise how badly they have been robbed by the private-for-profit corporate councils, how so many services have been slashed to pay for private profits, staff costs and private pensions, they will probably want to cancel any further payments and demand accountability.
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