THE ‘forecast maximum amount’ that Warrington Borough Council will borrow in the next three years totals £340 million.

This includes £179 million forecast for the year 2024-25.

Asked what its current level of debt is, the council says the position reported at quarter two (mid-year) was £1.798 billion.

It stated that this mid-year one given last year is the last one to have been reported.

The council says £340 million is the ‘forecast maximum amount’ that the council will borrow over the next three years, adding that it would depend on registered social landlords drawing down their loans, ‘as well as on any other schemes required to proceed, particularly invest to save schemes’.

Cllr Denis Matthews, cabinet member for corporate finance, said: “The sound management of council finances is of utmost importance to the Labour administration, and the borrowing undertaken is prudent and sustainable.

“Warrington Borough Council’s investments generate a net return of around £23 million per year after all the costs of borrowing have been deducted. The £23 million in profit assists us in paying for services we all rely on.

“The Labour administration took the decision to invest in Warrington. We have invested in our local economy, and we have invested in our residents. Our investments mean we can offset some of the Conservative cuts forced on our town.”

The council says it anticipates its total level of borrowing will total £2.2 billion in 2027, ‘as agreed by council on 27 February, as part of the capital strategy alongside the budget approval’.

Cllr Matthews added: “It is obvious to say that without the long-term and continued commitment of the Labour administration to invest wisely in the people of Warrington, many of the fantastic projects that have been delivered in the past decade would not have taken place and those planned would not be able to proceed.”