Page 3 - Mark Coxshall News Today

Thurrock Council has issued a section 114 notice warning that it will not be able to deliver a balanced budget this year or next year. The notice comes

Lyn Carpenter's exit announced at Thurrock Council meeting where finances were described as "grim".

THE chief executive of a council mired in a £469m funding black hole has resigned.

THE chief executive of a council mired in a £469m funding black hole has resigned.

The chief executive of crisis-hit Thurrock Council has resigned as the council warned it will declare itself effectively bankrupt before Christmas. News

When a hard-pressed local authority in southern England was looking to boost its finances, it turned to a novel idea: leveraged bets worth hundreds of millions of pounds on solar energy.

The council's current funding gap is more than three times larger than its annual budget.

Tory-led Essex authority is on brink of bankruptcy and has appealed to government for emergency bailout

The funding gap is about three times Thurrock Council's annual budget.

Solar farm owner Toucan Energy Holdings has reportedly entered into administration with Thurrock Council having ran up debts of around £1.5 billion.