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South London is not the only insolvent FT, it's only the figure head. There is already a "tail" that is in difficulty.

And Monitor need to pull their finger out and take assertive action on the others.

The current excuse is that the 2012 legislation has not yet been enabled, and everyone needs to wait... while more public money gets flushed away. I thought that the FT regime was supposed to make Boards accountable for taking the necessary difficult decisions, no sign of that happening yet.

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