Government to step in over Woking debt

TAXPAYERS will cover the cost of Woking Borough Council's financial folly after the government agreed to “aid the reduction” of the bankrupt authority's multi-billion pound debt.

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The bail out will initially cover debt owed by the borough in 2026-27 but could be extended if needed.

The pledge is an attempt to prevent Woking from immediately destroying any new authority it joins as part of the Government's merger plans for Surrey's councils.

Woking Borough Council declared itself effectively bankrupt in 2023 when its regeneration plans collapsed leaving it with debts expected to reach £2.6billion and annual repayments far outstripping what it brings in every year through council tax.