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Reigate and Banstead Borough Council leader against redistributing local authority debt

The article from MSN discusses the stance of Reigate and Banstead Borough Council Leader, Councillor Richard Biggs, on the issue of redistributing local authority debt. Biggs argues against the proposal to redistribute debt among councils, stating that it would unfairly penalize councils like his, which have managed their finances prudently. He highlights that Reigate and Banstead has one of the lowest debts per head in the country, and redistributing debt would mean that well-managed councils would have to take on the financial burdens of others. This, he believes, would not only be unjust but could also lead to increased council taxes or reduced services for residents of financially responsible councils. Biggs also points out the potential negative impact on local governance and financial autonomy, suggesting that such a policy could discourage good financial management practices among local authorities.

Read the Full MSN Article at:
[ https://www.msn.com/en-gb/politics/government/reigate-and-banstead-borough-council-leader-against-redistributing-local-authority-debt/ar-AA1yAuR9 ]