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Housing loan


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So the council is to loan £30 million to a housing association which can, if it wishes, use some of the money to build houses outside the borough.  The story on the front page suggests that the housing association is unlikely to actually do this - but I wonder if we will be told if it does?

And how can our cash-strapped council loan money to anyone?

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They, apparently, have funds to spend on PR friendly activities * and councillors' vanity projects but not to mend potholes.



I know some weary willy will be looking to explain the difference between revenue and capital budgets or whatever - but then the divvies at the Town Hall need to set those budgets better.




* or what they perceive as PR friendly - I'm not alleging hey are competent at doing so.

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So, how many "Housing Association Units" does £30m get you?


If the answer's a good one, then I don't see much wrong with it really.


Just a pity they have to employ this convoluted method of investing in social house building - such housing is certainly needed.


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I had no say when they bailed out the rugby club and I'll no doubt have no say when they fund this little exercise...... I would however like the councillors to pay for looking after our towns old folks and to repair the roads that people need to get to and from work so we can earn money to pay their allowances....


I did not vote for a bunch of lefty labourites to give my hard earned money away to private companies.... This should not be allowed

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No detail on what rate of interest is being charged on this loan - or what assets it is to be secured against.


What happens if this company goes bust?


Has the council even carried out due diligence and investigated the financial stability of a company that they are about to hand over such a huge sum of our money over to?

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