Survey finds 60% of key cities councils are planning to sell assets to meet costs of adult and children’s social care
English councils are planning to sell social clubs, sports centres and shopping arcades as they bet on a fire sale of assets to balance the books, according to a survey of local authorities.
The key cities group of councils, which represents second-tier cities in England, said 60% of councils were planning to sell assets to meet the escalating costs of adult and children’s social care.
Councils have in the past come under fire for selling playing fields and land to shore up their finances, but argue they must continue to raise vital cash from asset sales or declare themselves bankrupt.
The group said a high proportion of councils seeking to raise money from a fire sale of assets marked “a distinct shift from 2024, when the majority (60%) of local leaders said they would prioritise service redesigns and utilising financial reserves to weather increasing financial challenges”.
