English councils set for £1bn bailout as coronavirus ravages finances

Some authorities on brink of insolvency due to cashflow problems caused by lockdown Coronavirus – latest updates See all our coronavirus coverage Ministers are preparing a £1bn bailout to prevent a number of English councils from collapsing into insolvency as a result of huge cashflow problems caused by the coronavirus lockdown. The move, expected on Saturday, follows warnings that councils face liabilities running into several billion pounds due to the soaring costs of dealing with the crisis, as well as a massive expected shortfall in council tax income. Continue reading...