Local authority borrowing forecast soars to £16bn

The Office for Budget Responsibility (OBR) has almost tripled its local authority borrowing forecast amid intensifying financial pressures which have seen a growing number of councils forced to seek government bailouts.

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In its latest economic and fiscal outlook, released alongside the chancellor’s budget speech this week, the OBR said it had “significantly” increased its forecast

Local authority borrowing forecast soars to £16bn

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