Havering Council edges closer to bankruptcy.
Havering Council is edging closer to bankruptcy as uncertainty continues around a multi-million-pound loan requested from the government.
Government Loan
Government will not give Havering Council a guarantee it can borrow millions to avoid declaring itself bankrupt.
Havering is facing a severe financial crisis as it battles to balance a £31million budget gap by the end of the financial year in March.
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Havering Council will be forced to declare itself bankrupt if government do not agree a multi million pound loan.
The council needs the loan as it is facing a £31million overspend in 2023-24, and has only set out £12m
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