‘No more borrowing’
A PRESSURE group has condemned county plans to borrow money to fix its roads, after its finance chief said he would support taking out a £260 million loan for the project.
The Taxpayers’ Alliance, which campaigns against wasteful spending, says although roads are essential, borrowing should be a last resort.
The comments follow this paper’s report on how Peter Hardy, cabinet member for finance and resources said he would support borrowing to repair roads.
His comments were made as part of the budget scrutiny committee’s week-long look at the 2015 budget.
Councillor Hardy added he was hoping to persuade colleagues in cabinet to support the idea.
Leader Martin Tett said it would mean further cuts elsewhere.
Taxpayers’ Alliance spokesman Andy Silvester said: “Local authorities aren’t going to be allowed to go bust, so there’s no pressure to pay the debt – it encourages borrowing – whether worthy or not.”
He added the council should consider other options, saying: “There’s no question roads are an essential service, but the council should exhaust all possible avenues of finding the money from elsewhere before even contemplating running up a credit card bill on top of the £1.4 trillion one taxpayers are already dealing with.”