Thurrock council ‘repeatedly ignored warnings of risks to public money’

Documents show financial experts were concerned by ‘unprecedented risks’ being taken by Tory-led council

Tory-led Thurrock council, which is on the brink of bankruptcy after losing hundreds of millions of pounds on failed commercial investments, repeatedly ignored warnings from financial experts over the “unprecedented risks” it was taking with public money, it has emerged.

According to documents obtained by the Bureau of Investigative Journalism (BIJ), Thurrock’s top finance official failed to act despite being cautioned about the scale, speed and risky nature of the council’s investments.

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​Documents show financial experts were concerned by ‘unprecedented risks’ being taken by Tory-led council Tory-led Thurrock council, which is on the brink of bankruptcy after losing hundreds of millions of pounds on failed commercial investments, repeatedly ignored warnings from financial experts over the “unprecedented risks” it was taking with public money, it has emerged.According to documents obtained by the Bureau of Investigative Journalism (BIJ), Thurrock’s top finance official failed to act despite being cautioned about the scale, speed and risky nature of the council’s investments. Continue reading…