A story in the Herald of December 9 described in some detail a proposal by our borough council to spend £30 million (yes £30 million) buying ‘retail, commercial and industrial properties ... to secure future revenue opportunities for the authority’.
The story also talked about ‘smart investments ... to generate enough revenue for the council to service its debt and retain a surplus to fund public services’.
It said a meeting of the council’s Cabinet ‘will be told of potential schemes ... and will give senior officers the go ahead to purchase business opportunities’. The meeting, by the way, would be ‘a confidential session’ – surprise, surprise!
Prima facie all of this may sound quite exciting but, bearing in mind that £30 million is NOT Monopoly money, one wonders how many of the councillors would vote at the meeting and how many of the ‘senior officers [who will be given] the go ahead to purchase business opportunities’ have a proven track record in successful commercial property development?
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