Coventry Council assets valued at just under £2bn

LATEST figures show that Coventry City Council has assets valued at just under £2bn with shares in companies such as Tom White Waste, Coombe Abbey and Birmingham Airport making up five per cent of that.

- By DAVID LAWRENCE

And councillors were told that such an investment portfolio was essential to maintain services.

Addressing the council's finance and scrutiny board, Cllr Richard Brown, the cabinet member for strategic finance and resources, said the range of investments was important if Coventry did not go the way of other local authorities that either issued a section 114 (bankruptcy) notice such as Birmingham in 2023 or needed extraordinary financial support (EFS).