New information has revealed the spiralling levels of debt held by councils in the UK.
Information gathered by the BBC's Shared Data Unit has found that the combined borrowing figure for the 382 councils across the country has now reached £122 billion – and it rose by seven per cent last year alone.
However, Erewash is one of the top local authorities when it comes to borrowing with no debt whatsoever for the end of quarter 4 for the financial year 2023-2024 and 2024-2025 meaning that the total level of debt per person for each period was also NIL.
There were a total of 31 authorities nationally including Erewash Borough Council in registering a row of zeroes across the gathered data.
Regionally, these include Amber Valley Borough Council and Rushcliffe Borough Council.
Speaking exclusively to Erewash Sound, Borough Council leader James Dawson said: “It is no secret that times have been tough for cash-strapped local authorities – but here in Erewash, we have been laser-focused on our priority of putting local people first.
“It has taken robust financial stewardship – plus some hard decisions – to keep the council from going into the red. But our mission to remain debt-free is now paying off after residents put their trust in us.
“Just weeks ago, the council was in a position to reveal it is ploughing a massive £2million into improving the lives of people in the borough. The boost is in the form of new Erewash Investment Fund, which we have been able to launch while other councils are struggling.”
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