Through a series of loans the UK Government lent Woking a vast amount of money, which has now been spent and which without debt being cancelled Woking can never repay the full amount.
Due to the legislation that controls local government Woking can't just declare bankruptcy, and its creditors lose the money ending the debt. We are kept alive like a zombie, supply regulated services, but with the debt over hanging us. This means so called discretionary spending like keeping public toilets open is cut.
There are the issue of responsibility and justice.
It may be that central government thinks there must be a price to pay for failing so dramatically - but who took the decision and who is being punished ?