Essex Police offer help amid Thurrock Council finance probe

The Conservative-run Thurrock Council admitted £274m of taxpayers' money would be lost as a direct result of its investments

Essex Police has has offered its "assistance" to inspectors investigating the financial situation at Thurrock Council.

The council admitted a series of failed investments had led to a £469m budget black hole.

The shortfall is one of the largest ever reported by a UK local authority and its financial affairs are currently under inspection.

Essex Police said no criminal investigation was under way.

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As well as revealing the current £469m shortfall in the budget, the Essex authority said investments worth about £274m had to be "written down", meaning the money had effectively been lost.

Thurrock Council said it needed "exceptional financial support" from government.

A "Best Value Inspection" of the council is currently being carried out by Essex County Council, which has been appointed as commissioners for Thurrock Council by the government.

An Essex Police spokesperson said: "We are aware of the intervention and Best Value Inspection being led by Essex County Council in respect of the financial situation at Thurrock Council and we have offered our assistance to [the county council].

"There is currently no criminal investigation."

Mark Coxshall, leader of Thurrock Council, said the inspection would look into "everything that went on in the borough"

Mark Coxshall, leader of Thurrock Council, said the current Best Value Inspection was ongoing into "everything that went on in the borough" and any findings would be published by the government "in the fullness of time".

A spokesperson for the Department for Levelling Up, Housing and Communities said: "We are aware of the serious ongoing concerns about the financial management of Thurrock Council.

"Ministers have already appointed Essex County Council to the role of commissioner and best value inspector, giving them full control of the financial functions of Thurrock Council and powers to assess whether there are wider failures."

The government added it would "not hesitate to take further action" if needed.