Warrington Council to pay £30m for stake in bank
It has been reported that Warrington Borough Council will spend £30 million on buying a 33 per cent stake in a new bank.
Partnering an unnamed ‘major city financier’, Redwood Bank will target lending to small northern firms when it launches in August. The Labour-led council hopes to take a share of the profits, but opposition parties have raised concerns over the ‘risk’ involved in the move.
The authority hopes to generate income through interest payments, and insists the bank's business plan would be ‘monitored closely’ to protects its investment.
Latest News
17/04/2026 - 10:40
New research by Vauxhall has found that 42 per cent of councils will have cross-pavement charging available by the end of 2026.
16/04/2026 - 11:39
The Home Office has published new guidance to support the implementation of Martyn's Law.
16/04/2026 - 08:05
Under new reforms to make the council tax system fairer, vulnerable people will have more time and support to settle their outstanding council tax
16/04/2026 - 07:51
The Environment Agency has confirmed it has exceeded its two-year property protection target by nearly 10,000.
15/04/2026 - 11:31
Water companies have paid £8.5 million into environmental restoration projects as part of a strengthened crackdown on pollution and poor perf
