In response to an enquiry from the media we issued the following response about a loan agreement with Thurrock Council.
A spokesperson for Cambridge City Council, said: “Cambridge City Council currently has loan agreements with Thurrock Council. These loans were made on a fixed short-term basis and a majority of the money owed to the council will be returned within the next two weeks when the agreement comes to term.
“All lending of money is made in line with our approved credit list, which Thurrock Council was on at the time of borrowing. We will not be looking to place further funds with Thurrock Council until we are happy with their level of financial risk and debts.”
The executive councillor leading on this matter is Cllr Mike Davey (Labour), Executive Councillor for Finance, Resources and Transformation. Spokespersons for the other political groups on this issue are Cllr Tim Bick (Liberal Democrat) and Cllr Naomi Bennett (Green/Independent Group).