Financial crisis costs local councils cash
Friday 12 March 2010
Local councils had a combined shortfall in their budgets of €1.8bn last year because of the financial crisis, according to research by the local authorities' association VNG.
This year the deficit will reach €1.3bn.
Extra council spending because of the crisis and less than expected earnings from land rent and sales are the main reason for the shortfall, the VNG said.
© DutchNews.nl
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