Northamptonshire County Council repaying £150m in LOBO loans

Available for over a year

Struggling to balance the books, a government inspector patrolling the corridors of One Angel Square and still no solution to the prospect of having to make half-a-billion pounds worth of cuts by 2021. It's safe to the wolf is firmly at Northamptonshire County Council's door. But how much of the authority's financial woes can be blamed on a very different kind of wolf? That's because the county council has £150m pounds worth of controversial LOBO loans. LOBO - for those of you without a knowledge of Latin - means wolf in the ancient language. But just what are LOBO loans and how are they affecting the county councils finances?