Scottish councils hold record debts of £14.8bn – and are still borrowing

Guardian identifies further 472m of capital projects funded through Scottish Futures Trust that will add to debt repayments already costing 1.5bn a year

Councils in Scotland have borrowed record amounts to fund capital projects and are exposing themselves to even greater, long-term debts through private financing contracts organised through the Scottish Futures Trust (SFT).

Audit Scotland said in March that Scotland's 32 councils had total debts of 14.8bn in 2013-14, funded by their own borrowing from public and private sources. In addition, the Guardian has identified another 472m of capital projects for new libraries, leisure centres, schools and care homes earmarked for future development through the SFT from April 2014.

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