At least 26 English councils ‘at risk of bankruptcy in next two years’

Research from body representing 47 authorities says many could follow Slough, Croydon, Thurrock and Woking into collapse

At least 26 councils in some of Britain's most deprived areas are at risk of effective bankruptcy within the next two years, according to a leading local government group, which says many authorities simply have nothing left".

Britain's local government network has been shaken by a string of financial collapses in the past two years, starting with Slough and followed by Croydon, Thurrock and most recently Woking, which announced a deficit of 1.2bn in June after a risky investment spree.