The move follows years of instability stemming from a controversial commercial investment strategy pursued by the previous Conservative administration, which left the council with debts of more than £1.3 billion before it effectively declared itself bankrupt in December 2022.
The Section 114 notice issued at that time confirmed the council could not balance its budget, triggering government intervention and commissioner oversight.
The Department for Levelling Up, Housing and Communities said the new support forms part of a wider effort by Labour to clamp down on risky local authority investments and protect taxpayers from the consequences of past failures.
Labour, which took control of Thurrock Council in 2024, says it…