Schools, care homes and sports clubs sold off to pay spiralling council debt

This article highlights the growing financial challenges faced by local councils in the UK. With debts totaling £122 billion, councils are being forced to sell off numerous public assets, including schools, care homes, and sports clubs, in an effort to reduce their spiraling debt. The article notes that this trend is widespread, with hundreds of council-owned properties being sold off across the country. This move is seen as a desperate measure to address the mounting financial pressures on local authorities, which have been exacerbated by factors such as budget cuts and increased demand for public services. The sale of these public assets raises concerns about the impact on local communities, as the loss of essential services and facilities could have significant consequences for residents. The article suggests that this situation reflects the broader financial challenges facing the public sector, underscoring the need for a comprehensive review of local government funding and the development of sustainable solutions to address the debt crisis.