Debt down at Cherwell
15/07/2025
Repaying a loan early has resulted in a windfall into this year’s budget
The total amount of Cherwell District Council’s net debt fell by £21million in the three months up to June this year.
At the end of March the Council’s net borrowing figure was £160million, but by the end of June this had fallen to £139million. This is made up from £157million of loans less £18million the council has in investments.
The decrease in the amount of debt is mainly due to the council repaying a 50-year loan early, which earned a £14.6million discount. This has resulted in a windfall of £1.46m into the current year’s accounts.
Back in March last year the council owed £181m, with 51percent of this debt associated with the Castle Quay development, including the centre itself, the leisure complex, hotel and supermarket.
The latest details are included in a Treasury Management report, which will be considered by councillors on the Accounts, Audit and Risk Committee tomorrow night.
Published: by the Banbury FM News Team
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