BUCKS Council says it “expects” its £10m loan to one of the most debt-ridden local authorities in the country to be paid back in full.

The government announced it was appointing commissioners to intervene with Thurrock Council’s finances due to its “exceptional high level of financial risk and debt” surrounding its solar farm company.

Troubling details of the Essex council’s secret investments using taxpayers’ money came to light following a three-year investigation by the Bureau of Investigative Journalism.

According to the report in July, Thurrock could end up losing £200m of the £655m it loaned to the company, which is roughly the same as its annual budget. The Bureau also outlines that £138m of taxpayers’ money is “missing”.

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The report reveals Thurrock owes multiple local authorities nearly £1bn – including Buckinghamshire Council, which loaned the debt-ridden local authority £10m on January 7, 2022.

The Conservative-led Thurrock has racked up one of the biggest debts within the country, totalling £1.5bn. The intervention led to the council’s long-serving leader resigning.

Concerns from other local authorities that loaned money to Thurrock have been raised, fearing their loans may not be repaid.

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But Bucks councillor John Chilver, cabinet member for affordable housing and resources, said they “expect” the £10m loan to be fully repaid on its deadline date of January 6, 2023.

He said: “Other local authorities are approved counterparties in Buckinghamshire Council’s treasury management strategy.

“There has never been a default on inter-authority borrowing.  Loans of this nature form a standard part of Treasury Management for most local authorities. Strict safeguards are in place, and we closely monitor the situation to ensure no risks are taken with council funds.”