As always, it was several things that made it spiral out of control - they made some pretty poor investments, borrowed heavily to fund regeneration that lost value, and (something that isn’t really reported on) they have poor bureaucracy systems 1/2
It’s a boring subject, but they’ve had issues with their filing systems for decades. They’ve been prosecuted for contributing to the deaths of children under council supervision, their filing systems being significant factor, and recommendations of it being overhauled several times 2/2
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(Isn’t Woking quite an affluent area; stockbroker belt? What is going on??).