Slough Council could be forced to sell off £600m of property under the government’s rescue plan.
The three-year rescue plan, overseen by government-appointed commissioners, was imposed after the Labour-run council admitted that it needs more than £100m of additional financial support in 2021-22, far higher than initial estimates of £15m.
The borough spent £96m betting on commercial property before Covid hit, with investments including a cinema in Basingstoke and superstores in Gosport and Wolverhampton.
It will now have to sell half of its £1.2bn of assets, up from a previous estimate of £400m.
