Torbay Liberal Democrats

Working with the community for a better Bay

COUNCILLOR TO RAISE COUNCIL'S MOUNTING DEBT AT COUNCIL MEETING

9.41.39am BST (GMT +0100) Tue 6th May 2008

Paignton Liberal Democrat Councillor Ruth Pentney is tabling a question about Torbay Council's rising mountain of debt at the Council meeting on 14th May.

Councillor Pentney's question to Councillor Carroll (the Cabinet Member with responsibility for Finance) is:

"What is the total amount of debt that Torbay Council has and what are the total costs per annum for the furnishment of this loan?"

Councillor Pentney said:

"Under the Elected Mayor and his Conservative administration, the Council's debt has risen to £18 million. £400,000 of extra borrowing has now been added to this for the purchase of parking meters. With the current economic downturn there are real concerns about the Council's level of borrowing and the impact that the level of repayments will have on the Council in future years."

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Previous news story: LIB DEMS 'CALL-IN' MAYOR'S PARKING METERS DECISION (Thu 1st May 2008).
Next news story: LIB DEMS CAMPAIGN TO SAVE KEY ASSETS FROM BEING SOLD OFF (Mon 12th May 2008).

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