Austerity-hit council defends its ‘high-risk’ investment strategy

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Leaders in Warrington turned to commercial investing to make up for funding cuts, but now the plight of a small energy firm threatens to make that a gamble too far

After years of decline, the town has pumped £130m into redeveloping Time Square into a publicly owned market and cinema complex. A similar investment in nearby Preston won plaudits for being “Andrew Burns, associate director of the Chartered Institute of Public Finance and Accountancy, which represents public accounting professionals and sets standards, says Warrington’s approach is not new.

 

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Sounds vaguely reminiscent of the Rates Swop policy adopted, in greed, some years ago by (City of Westminster?) a London Borough which came majestically unstuck. Appalling that Councils are being forced to do this due to underfunding from central Government. Death of 1,000 cuts?

Precisely what conservative governments want to achieve by beggaring social service providers, force them into prostituting themselves just to exist.

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