Salford council loses £1m in business rates after 52 companies go bust

manchestereveningnews.co.uk:

Salford council has lost around £1m in business rates because of 52 companies becoming insolvent, with 36 going bust in the last year alone.

The local authority has written off the debt. This represents around 2 pc of the total cash the council expected to collect from business rates during the year – but bosses say they budgeted for it. READ MORE: Huge £40m sale agreed as plans for 700 homes on Salford golf course set to go ahead A further £1.5m owed in council tax and housing benefit overpayment has been written off in the last 10 months due to the debt being 'irrecoverable'.

Labour councillor Bill Hinds, who is the lead member for finance and support services at Salford council, said he worried the situation would be worse.