The cost of servicing Croydon’s debt was made a million times worse because the then Labour-run council  agreed to pay over the odds in interest on the £120million bail-out  loan. During a select committee hearing about Croydon’s S114  – bankruptcy – experience, Conservative MP Bob Blackman  questioned whether it was ‘fair and reasonable’ that the Treasury was … Continue reading Labour agreed to pay higher interest rate return on bail out loan