Borrowing Calls to give public the final say on council plan

THERE are calls for Cotswold District Council to put its “massive borrowing spree” to a public vote.

Council leaders last week approved their recovery investment strategy to spend more than £76 million on green energy investments, economic development and housing over the next four years.

The funding is split between £49.7m for green energy investments, £25m on economic development and asset usage, and £1.8m for housing. The Conservatives say £58.17m of this will be spent before next year’s council election. But they say voters had no idea of the levels of debt the Liberal Democrats would get the council into and a referendum should be held.

Tory group leader Tony Berry said: “When we all voted in 2019 there was no hint of this massive borrowing spree, and although it has been in subsequent budgets and been questioned by us, this is the first time we’ve had any real information… although previously it had been suggested that half of the borrowing would be for social housing.

“This is just more imprudence from this council. Despite putting up council tax by the maximum, taking away the free parking and putting all other prices up, their enormous spending on people, consultants and vanity projects has still left them needing more and they are moving into risking your money to achieve it.”

Cotswolds Tory MP Sir Geoffrey Clifton-brown also agreed there should be a referendum and the council should not borrow and lend money on such a scale. He said: “It is not the job of a local council to borrow and lend money at this scale on your behalf, and we believe you should have a say on it, hence we demand that the council put these proposals to the electorate for their decision – it is, after all, your money that they’re playing with.”

Deputy leader and finance cabinet member Liberal Democrat Mike Evemy says his party have had to plan for the long term after the Tories left the district council with a £1m-a-year budget black hole after 16 years in power.

He said: “Coupled with the 60 per cent cut to our core government funding by the Conservatives in government and the impact of Covid-19, we’ve had to make some tough decisions in order to balance our budgets. The council is planning to borrow money to invest in projects that will benefit the local economy and tackle the climate emergency.

“These projects will also allow the council to achieve a financial return that will help support our budget in future as we face further budget cuts from the Government. All of these investments will be subject to an individual business case appraisal that will be scrutinised and approved by the cabinet or the full council.

“Other councils locally, including Gloucester and Tewkesbury, which are run by the Conservatives, are following a similar path to us with respect to borrowing to invest; I don’t recall them suggesting that they should hold referendums, too. What Cllr Berry, Geoffrey Clifton-brown and the Conservatives won’t tell you is their alternative to our plans to invest in the district.

“That’s because the alternative is cutting services that people rely on, such as the waste service, housing and community grants and sacking people who are working on the council’s priorities.”

It is not the job of a local council to borrow and lend money at this scale on your behalf Sir Geoffrey Clifton-brown MP