Wirral Council is seeking an emergency government bailout after auditors warned that a deficit of over £26m and scant reserves place the authority in a “critical” financial situation.
Wirral Council has approved a financial recovery plan which includes suspending a planned £5m investment to create a community bank, following a critical government-commissioned review.
An improving financial position for Wirral Council has led to the authority reducing the level of expected government support this year by £3.5m, according to its finance chief.
Three councils in the North-West of England are to press on with the development of a community bank to help tackle financial inequality in the region, after the green light was given by the...
