‘We’ll cope with borrowing £150m’
HALTON Council’s leader has said the local authority is well placed to borrow £150m for a major works programme.
Borough chiefs approved a plan to spend £192m over the next three years on capital schemes at the Municipal Building in Widnes on Thursday, July 14. More than half of the funding is for the Mersey Gateway bridge project.
Cllr Rob Polhill said the local authority has lower borrowing rates then other local authorities and therefore will ‘cope well’ with the debt.
Other schemes to receive backing of more than £1m include the redevelopment of the Crosville depot in Runcorn, the refurbishment of Widnes Market, Sci-Tech Daresbury, Norton Priory, 3MG, Peelhouse Lane Cemetery, Fairfield Primary School and disabled facilities.
Cllr Polhill said the major works plan is not particularly different from other years but the council still faces ‘ major pressures’ on running costs.
He said: “This year’s capital programme is similar in size to previous ones, setting the Mersey Gateway to one side.
“The council is, therefore, well used to delivering programmes of this magnitude.
“The programme is financed from a number of sources for which borrowing is only one.
“Capital receipts and grants from third parties also help us fund our programme.
“Compared to other local authorities the council has rela- tively low levels of borrowings and can therefore can cope well with the levels of borrowing required for this programme.
“It is a varied programme aimed at delivering the council’s priorities across a broad range of activities.
“While there continues to be a major pressures on the council’s revenue funds it is vital that the capital programme is used to continue to improve both services and infrastructure within the borough.
“We are confident this programme will do just that.”