Leading local government finance expert, Steve Bundred, has warned of a second financial 'Armageddon' - this time, for town halls. In 2009, as chief executive of the Audit Commission, Mr Bundred warned that the Government would face financial Armageddon if it did not cut costs or increase taxes. Now, writing exclusively for The MJ's new website, www.themj.co.uk, Mr Bundred claims council budgets 'may be about to fall apart', and, come late autumn, some authorities will face financial crises - but the Government will not be there to bail them out. 'Councils have already begun to deplete their reserves,' he writes. 'So, expect a series of financial crises, beginning in the late autumn and running into the next financial year.'
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