Member

The Woking £500 million is the first tranche of support, and we continue to work with the Woking commissioners and the council on its debt position. We will continue to explore what further debt support is required, including following greater certainty on the rationalisation of Working’s assets. Any debt support for the council must consider broader value-for-money considerations for local and national taxpayers, and we are also committed to providing interim financial support to a new unitary authority—for example, capitalisation support—until the sale of Woking’s legacy assets is completed. I think that answers the question asked by the noble Lord, Lord Jamieson.