PARLIAMENTARY WRITTEN QUESTION
Woking Borough Council: Loans (7 June 2023)

On 25 May 2023, the Secretary of State announced that he had considered that Woking Borough Council had failed in their best value duty. Consequently, the Council has been placed in statutory intervention for a duration of five years. Commissioners have been appointed with powers over key council functions, including finance and commercial activities. On 7 June, the Interim Finance Director of Woking Borough Council issued a notice, as required under section 114 of the Local Government Act 1988, that the Council cannot balance its budget in the current or subsequent financial years. The issuance of such a notice is a local decision.

As part of the intervention, the Secretary of State has directed the Council to prepare and agree an Improvement and Recovery Plan to the satisfaction of the Commissioners within six months.

The Government is working closely with Woking Borough Council and its Commissioners to monitor, in detail, the Council's future borrowing requirements.