The decision by the Borough Council’s new Labour administration to needlessly borrow for a regeneration project has been severely criticised by the former Conservative Leader of the Council.
Cllr David Westley, Conservative Group Leader, explained: “I fully support the Skelmersdale 'Greenshoots' project to build 11 business units on land owned by the Council as it was initiated by the previous Conservative administration. But we always intended to fund the Project from the Council’s substantial reserves.”
The Conservatives presented an alternative detailed proposal to the full Council meeting, one that had been endorsed by the Borough Treasurer, but Labour refused to listen to reason and used their majority to get agreement to borrow. Cllr David Whittington, Conservative finance spokesman, added: "Labour inherited a very strong financial position from the previous Conservative administration but it has only taken them two months to demonstrate a total disregard of our sound financial management. "Its decision will cost the tax payers £53,165 a year which equates to £1,505,228 over the term of the loan.”