Views on council debt are worryingly naïve

In the article ‘Councillor hits back at ‘lucky‘‘ finances claim’ you report the RBWM lead member for finance, Cllr Hilton, as saying: “As soon as we see there is a probability of interest rates going up we will begin to move some of our short-term debt into longterm debt and capture lower rates.”

This displays an economic naïveté so typical of this administration’s past financial incompetence (in my humble opinion).

The difference between long and short term rates can vary depending on expectations of inflation over the corresponding periods of time and there is no certainty that long term rates will stay low when short term rates rise.

But of course he has a ‘get-out’ in that he can always lay the blame elsewhere: “We work with companies who provide advice and guidance.”

How fortunate for this administration that they have a ready-made ‘get out of jail free’ card in the capital receipts likely from the Maidenhead Golf Club project.

It is truly unfortunate that any decision to proceed with this project will be influenced by the desire to correct previous financial mismanagement rather than the wider implications of preserving greenbelt land and our precious ‘urban lung’ heritage. ROBIN WILLIAMS Chiltern Road

Bray