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Scotland’s overall council debt has reached an astonishing £14.8bn which represents £6,166 per Scottish household

South Ayrshire Council incredibly have the third lowest net debt levels in Scotland, with its 32 councils having a combined debt of £14.8bn based on figures during 2013-14 published in the Carrick Gazette. Trust Deed Scotland have responded to the news, which has been downplayed by a senior member of South Ayrshire Council.

The council’s debt of £190m equates to a rise of 3.6 per cent in debt levels since 2003-04 and reflects a general Scottish trend of borrowing to protect and improve services such as new schools and social housing.

Tim Baulk, Head of Finance and ICT for South Ayrshire Council said their expenditure was sustainable:“In the ten-year period since April 2004 we have invested nearly £236 million in our buildings, infrastructure, housing stock and other assets, funded through capital grants from the Scottish Government, revenue contribution from services and borrowing.

“Borrowing decisions to support capital investment are made within the context of our financial strategy and capital investment programme, where it is deemed affordable in revenue terms and is sustainable in future years. The level of net debt held by us, around £190 million, is considered prudent and affordable when compared to the value of assets held.”

Scotland’s overall council debt has reached an astonishing £14.8bn which represents £6,166 per Scottish household – more than double of England’s £3,100 and Wales’ £2,825 debt per home. A spokesperson for Trust Deed Scotland, debt advisors for Scottish residents, has released a statement following the council’s figures.

They said: “Debt has been a huge problem for some considerable time now, whether that’s for residents or local authorities. Although South Ayrshire Council may well have a sustainable financial strategy, the fact they have the third lowest council debt totalling £190m is deeply concerning for Scotland’s overall economic health.

“The overall debts of Scottish councils are higher than other UK nations and reflect financial struggles around the country. With Trust Deed Scotland you get free and independent debt advice that helps get those struggling back on their feet without the perils of payday lenders or creditors chasing you for unaffordable repayments.”

Trust Deed Scotland® Ltd is a leading debt advisory service for Scottish residents. They are 100% owned and operated in Scotland, with a 98% trustpilot rating owing to their free, qualified debt advice. They are able to advise on the suitability of Trust Deeds and a number of alternatives, including The Debt Arrangement Scheme, Debt consolidation and Sequestration.

This press release was distributed by ResponseSource Press Release Wire on behalf of Trust Deed Scotland in the following categories: Personal Finance, Business & Finance, Public Sector, Third Sector & Legal, for more information visit http://pressreleasewire.responsesource.com/about.