Newham LBC has insisted that its financial accounts are open and transparent after it came under fire in a national newspaper last week for a lack of transparency. The report said the council has not explained the sharp rise in its borrowing and interest payments. According to the story, the council's borrowing surged by almost 10%, from £731m to £804m, in the financial year 2016/17. Its interest payments increased during the same year by nearly 66%, from £51m to £84m.
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