Newham may be heavily in debt – but spending is under control and the management of money in the Borough is more transparent and efficient, councillors were told.

Terry Paul, the cabinet member for finance said the council’s projected deficit of £12 million was down to £5.8 million. The Borough’s accounts had been the first in London to be completed and signed off, two months earlier than last year and Neil Wilson (Plaistow South), chair of the audit committee, said that the committee was monitoring the finances closely. “We can’t be seen to be marking our own homework,” he said.

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