Misinformation?

[jnorris235]

Here's something from today's Scrutiny meeting on the budget. The £20 million pounds of NEW funds that had been obtained for Balfour Beatty to up the ante on these roads and potholes is NOW coming from a mass sale of as many Council owned assets as possible in the short term. Out of £100 million which we (you, us!) own the Council will sell off £20 million a year, every year at least for the next three years.

 

At a meeting held by BB and with the Chief Financial of the Council for all our parishes to attend, we were distinctly told this was NEW money. Can I have support from those present at that meeting please, because they're denying saying it. Or did I mishear?

[Colin James]

Here's something from today's Scrutiny meeting on the budget. The £20 million pounds of NEW funds that had been obtained for Balfour Beatty to up the ante on these roads and potholes is NOW coming from a mass sale of as many Council owned assets as possible in the short term. Out of £100 million which we (you, us!) own the Council will sell off £20 million a year, every year at least for the next three years.

 

At a meeting held by BB and with the Chief Financial of the Council for all our parishes to attend, we were distinctly told this was NEW money. Can I have support from those present at that meeting please, because they're denying saying it. Or did I mishear?

 

Would this information be in the minutes of the meeting Jon?

[jnorris235]

Not sure yet how to get hold of minutes but will do tomorrow. However now confirmed that it was clearly understood by many of those there that this was some sort of grant. However it was some sort of extra that BB needed to get over the worst of the raids before their actual contract to maintain could be seen to have any effect. So the council coughed up another £20 million. Will update on my blog cos I'm also mystified as to how jobs are prioritised if U class roads with a couple of houses get resurfaced when there are still plenty of potholes damaging cars on well used roads.

[Steve Major]

Yes Jon I would be keen to have a read though those minutes too.

[jnorris235]

Nope, no minutes. Just, possibly, misinformation. But its an old political argument about money for here and money for there, then you find out it is money just being shifted - in this case from assets to revenue.

Still. Next problem?

[Jim Kenyon]

Jon you are not confused I too was under the impression that this was 20 million of new money we have hoodwinked by the Tory administration Belfour Beatty won the contract on the back of this why? Question for Harry Bramer

[Adrian Bridges]

Here we go another pot of money borrowed this must now be up to £600 million

 

Development Circa    £100 million

Waste Contract          £40 million ??  and will rise

Link Road                  £27 million need to borrow this

Western Road           £250 million they want to borrow this

Balfour                       £20 million

 

How much more do the Conservatives want to keep borrowing using the excuse of a low interest rate?

[twowheelsgood]

I simply can't believe we've been shafted by Balfour when they're only just over 3 months into the contract - why can't we get tough with these people. Whatever is in the contract must stand. If they don't like it, call their bluff, let them walk and do what should have been done in the first place and that is revert to direct labour.

 

Interest rates are almost certain to start creeping back up within the next 2-3 years - what happens then? Oh, of course, those responsible won't be around will they? They'll be cleared out in May 2015 and good riddance, but how on earth we dig ourselves out of the mess is a very big question. I've heard talk of a merger with Shropshire, but will they want us?

[flamboyant]

Talking of misinformation the attached link is riddled with it but our Cabinet fell for it hook line and sinker!

 

http://councillors.herefordshire.gov.uk/documents/s50016898/Appendix%201%20Impact%20Study.pdf