Blackpool Council says it is safe for now from any risk of bankruptcy as budget pressures ease

Coun Lynn Williams told a meeting of the full council the town hall was now forecast to overspend on its current budget by £1.1m – compared to previous forecasts of £4.9m.

There is also a revised forecast for working balances (money held in reserve) of £5.6m.

It comes after Nottingham City Council became the latest local authority to issue a section 114 notice, effectively declaring itself bankrupt and only able to fund essential services.