Latest figures from Wirral Council show that the ‘cash strapped’ authority has now lent more than £50 million to other councils and a police commissioner in Lincolnshire.
Some of the biggest loans have been in the last 12 months - £5 million lent to Thurrock Council and £5 million lent to Uttlesford District Council, both in Essex. The interest rates charged by Wirral on these two loans are just 0.4%
Councillor Lesley Rennie said: “Over the last five years, Wirral’s Labour Council has lent £51.7 million to councils from the Highlands of Scotland to the London Borough of Haringey.
"Most of these loans are being given at less than 0.5% so they hardly represent value for money for this Council.
"Residents quite rightly expect money they have paid in Council Tax to be used for services in this Borough, not bailing out other councils in the rest of the UK.
"It’s time for the Council to stop playing banker and start fixing the problems that residents here in Wirral are facing.”
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