British Council’s £197m debt should mostly be written off, MPs say

Commons report calls on Foreign Office to bail out soft-power flagship reeling from job cuts and asset sales Ministers should explore writing off a crippling £197m loan to the British Council by converting as much of it as possible into “a grant or similar”, MPs have said. The Commons public accounts committee said the government lacked a “positive vision” for the council, whose soft power value to the UK is put at £1bn a year. The MPs called on the Foreign, Commonwealth and Development Office (FCDO) to set out what more it could do to support the council and its work. Continue reading...

This story comes from The Guardian's feed; the full article and all rights belong to the source.