Guardian identifies further £472m of capital projects funded through Scottish Futures Trust that will add to debt repayments already costing £1.5bn a yearCouncils in Scotland have borrowed record amounts to fund capital projects and are exposing themselves to even greater,long-term debts through private financing contracts organised through the Scottish Futures Trust (SFT).
Audit Scotland said in March that Scotlands 32 councils had total debts of £14.8bn in 2013-14, funded by their own borrowing from public and private sources. In addition, and the Guardian has identified another £472m of capital projects for unusual libraries,leisure centres, schools and care homes earmarked for future development through the SFT from April 2014. Continue reading...
Source: theguardian.com