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Brighton writes off £51m loan: ‘a bitter pill to swallow’

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Brighton and Hove City Council has agreed to write off a £51m loan invested in a “notoriously risky” tourist attraction, which has since gone into administration.

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In 2014, the council lent £36.2m to the Brighton i360, a seafront viewing platform, to fund the development of the 531ft tower. The loan

Growth opportunities in mayoral strategic authorities (MSAs) are potentially being undermined by institutional investors engaging “too late”, a report has found.