Warwickshire takes six-month loan to fill £5m cash shortfall

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Warwickshire County Council pension fund has been forced to take a £5m loan to fill a cash shortfall after austerity measures put a strain on its cash flow.

The six-month loan - due to repaid at a rate of 1% - made up a shortfall at the end of March to cover member payments as job cuts and early retirement initiatives by employers hit by the tough econ...

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