Earlier this year the Taxpayer's Alliance revealed that employer contributions to local government pensions, paid for by taxpayers, are equivalent to £1 for every £5 raised in Council Tax.
Despite that huge amount being paid into council pension funds, their new research out today shows that CWaC Council are still in deficit by a massive £184,912,000 equivalent to £565 for every single resident.
While the value of the funds' assets may rise, they are "severely underfunded" according to the OECD, facing a lasting black hole in their finances for which ultimately taxpayers are on the hook for.
My comment: A little remiss of #QuackCWaC Council not to mention this when they were telling residents how well they have done over the last three years.
Read the full story from source Taxpayer's Alliance PDF download.