Most local councils are short of money, deficit hits €5.2bn

Three-quarters of the Netherlands’ 342 local councils are facing financial difficulties, with many delaying decisions in the hope of additional government funding, according to research by accountants group BDO. In total, councils with a deficit are €5.2 billion short of what they need for the coming years, BDO said. Although all councils combined have reserves totalling €41 billion, these funds are not always accessible to cover budget shortfalls. Next year, the government plans to reduce its funding for local authorities,...