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A report by the BBC Shared Data Unit has revealed that in Q2 of the 2023/2024 financial year that Newry, Mourne and Down District Council had a debt of £57,285,000. The figure represents £314 per person in that quarter considering the areas population of 182,345. It's the second highest level of debt in NI councils after Ards and North Down which has the highest level of debt in NI at £62,725,000. A total of £383 per head.
Newry's debt has reduced since 2021/22 when it was around £69m. In 2022/23 the council repaid external loans of £10.3m and it did not borrow any further loans.
From 2022/23 the council has an authorised borrowing of £126m based on the council's forecast captial expenditiure plans over the medium to long term. Councillors agreed a number of years ago that Council will borrow £50m for their capital projects including civic centre, theatre and public realm, which would take todays announced debt to over £107m.
Debt of neighbouring Council Armagh, Banbridge, Craigavon with a population of 219,127 runs close at £54,765,000. Though at the other end of the scale the 149,272 people living in Lisburn and Castlereagh Council have zero debt.
While £57m is a massive amount of money a comparable region of Thurock in England with its population of 175,902 has a much greater debt of £1,415,889,000 amounting to an eye-watering £8.049 debt per person.
The BBC Shared Data Unit Council Debt reported on the 381 councils throughout GB and NI with Birmingham City Council top of the league with a debt of £2,949,880,000.
