Newham expects to save £143m in interest payments that can now go towards servicesNewham council is claiming victory after striking a deal with NatWest over £150m in high-cost bank loans that it says will save millions of pounds and enable it to boost spending on local services.The beleaguered east London authority said it expected to save up to £143m in interest payments over the remaining 41 years of the contract – or £3.5m per year – as a result of the deal. It also avoids a full-blown lawsuit, with Newham having withdrawn a high court claim against NatWest’s parent company, Royal Bank of Scotland. Continue reading…
Via: East London council claims victory with deal on NatWest loans
Categories: English News