Woking council ‘effectively bankrupt’ with nearly two billion in debt

“Our aim is for Woking to be recognised as a premier global business location” – so said Woking Borough Council in 2017 when it put its economic development strategy online.

But today the council, which recently changed hands from Conservative to Lib Dem control, declared it is effectively bankrupt after its investments in hotels and skyscrapers appear to have gone horribly wrong.