Thursday, April 18, 2024

Thurrock Council payback from failed solar farm deal is £510 million

THURROCK Council has announced it has received just over £510m in payments following the sale of Toucan Energy Holdings, the group of companies it invested in reports Thurrock Nub News.

The collapse of Toucan was the catalyst for the council’s fall off a financial precipice as other investments went wrong, leading to a total debt approaching £1.3 billion. 

The council says it will use the cash to pay down debt.

Click below for full details.

https://thurrock.nub.news/news/local-news/council-payback-from-botched-solar-farm-is-ps510-million-loss-is-in-hundreds-of-millions-and-its-already-cost-ps30m-to-recover-debt-221569

2 COMMENTS

  1. Sod the debt! The councils hold use the repayment to reduce council tax! Why should we, the council tax payers, tske the can for their incompetence? This is the biggest act of fiscal stupidity since the Icelandic Banks Scam! The council should stop acting like a limited company, and take personal responsibility. Let them sell their nansions, Jacuzzis, Ferrari, Lamborghinis. yachts. Learjets, art collections , antiques. Get their kids out of those posh private schools, etc!

  2. Like I said when this kicked off and as was proven by last night’s reel of abstaining by labour .this bunch of self serving sycophants should dismantle the council as it is not tenable but I suppose the analogy of turkeys voting for Christmas springs to mind .perhaps the residents should all pop down to westcliff casino and put their council tax on black or red on roulette wheel .if you win you pay .if you lose thurrock council pick up the debt .sound similar to their investments .The sad truth being by us doing that we would lose nothing individually if we lost but in their world we are all losing and paying for decreasing services whilst they are still paid by the public purse , no cuts for them what have they done in the last 5 years .system is broken and undoubtedly corrupt .This council should be dissolved in the public and governments interest , second post office scandal ?

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