Home » World News » Our council is BANKRUPT after wasting billions on doomed projects, living walls & odd statues… that’s not the worst part | The Sun
Our council is BANKRUPT after wasting billions on doomed projects, living walls & odd statues… that’s not the worst part | The Sun
SUSPENDED in a cherry picker above Wolsey Place’s shopping centre, two workers tend to a ‘living wall’ stretching across the balconies of a block of flats.
It's the only way to water the elaborate display of 9,700 trailing plants – dubbed the ‘Hanging Gardens of Woking’ by locals – designed to rejuvenate the 1960s social housing block.
It’s one of many “ridiculous” redevelopment projects which residents claim is a contributing factor to the council effectively going bankrupt, after amassing debts of up to £2billion and a deficit of more than £1bn.
Woking Borough Council was reportedly warned four years ago about its “off the scale” level of debt during a Local Government Association peer review, which stated its borrowing was “atypical amongst district councils”.
It ploughed money into risky investments including commercial properties and sky-scraper buildings, jokingly referred to as its bid to become the 'Singapore of Surrey'.
Last week the council – now run by the Liberal Democrats after the Conservative administration was voted out in last year’s local borough elections – was served a Section 114 notice, putting a stop to all new spending.
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Woking Borough Council’s Chief Executive Julie Fisher said: “The issuing… of a Section 114 notice is a very serious matter that rightly reflects the scale and breadth of the acute financial situation facing the Council.”
On hearing the news the council will no longer manage its own finances, and that central government is now in control of spending and essential services, the mood in the town is one of anger and disbelief.
Many locals fear the worst is yet to come, as they're terrified they’ll be the ones expected to cover the costs.
John Johnson, 43, an account manager who is currently unemployed tells us: “They built things we didn't need and paid over the odds for them. It's disgusting."
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