Local Government Finance: West Surrey
The question
To ask the Secretary of State for Housing, Communities and Local Government, pursuant to the corrected answer of 29 June 2026 to Question 7833, on Local Government Finance: West Surrey, what specific loans in the Woking Borough Council debt will be written off by the Government, and which loans will remain owed by the council.
Answered by Ministry of Housing, Communities and Local Government
On 28 October 2025, the Government announced its commitment to repay £500m of Woking Borough Council’s debt in 2026-27 ahead of the implementation of Local Government Reorganisation in Surrey (Written statement). This decision followed assurance over the council’s financial position, the council’s commitment to manage and to reduce debt locally within their capacity, and consideration of overall Value for Money for local and national taxpayers.
Subsequently, the Government has worked closely with the Council and its Commissioners to agree the details and timing of the loan repayments process. The first two payments towards Woking’s loans held with the Public Works Loan Board were made on the 1st and 3rd September 2026. This process will continue until the end of this financial year in March 2027, fulfilling the Government’s commitment.
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