Tory led Thurrock Council

Expect the Tory lickspittles to give exactly the same comments to Thurrock Council (Tory) as they did to Croydon (Labour) in the same same bankruptcy scenario.

"Tory good with finance, Labour bad....Mail sed it, so it's gospel truth".

Only thing Tories have proved to be very good at with the countries finances is moving public money en masse to their mates offshore, borrowing more to cover this then expecting the poorest in society to fund this cycle. Repeat.
 
I'm no financial expert but the solar farm bloke they lent all that money to looks like a right spiv.

His company 'Toucan Energy Holdings 1' implies a 'Toucan Energy Holdings 2' and possibly a '3'. Isn't that a red flag for setting up a bunch of dodgy shell companies which will likely never transact any legitimate business? I can't wait for the links between him and Thurrock council members to come out.

https://www.thebureauinvestigates.c...m-black-hole-caused-by-ruinous-business-deals
 
"In common with many other councils Thurrock attempted to offset the effects of years of austerity cuts to its funding by borrowing cheaply from the Treasury and investing in commercial business in the hope this would provide an alternative income stream. By 2019, English councils had borrowed over £6bn for this purpose."

Good old austerity. Will probably happen again this time round. The Tories are really clueless with the economy.
 
MolteniArcore said:
"In common with many other councils Thurrock attempted to offset the effects of years of austerity cuts to its funding by borrowing cheaply from the Treasury and investing in commercial business in the hope this would provide an alternative income stream. By 2019, English councils had borrowed over £6bn for this purpose."

Good old austerity. Will probably happen again this time round. The Tories are really clueless with the economy.
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Geez, that's like a Hedge Fund playing with a pension investment. What could possibly go wrong?
 
I read about this yesterday. Either incompetence or criminality on a massive scale. Can only be one or the other.
 
BoroFur said:
The party to be trusted with the country's finances right?

www.theguardian.com

Thurrock council admits disastrous investments caused £500m deficit

Tory-led Essex authority is on brink of bankruptcy and has appealed to government for emergency bailout
www.theguardian.com www.theguardian.com
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Are you sure it's a Tory council? Daily Mail seems to have done an entire article without mentioning the party running it _ they obviously forgot....😉

www.dailymail.co.uk

Council's 'gamble' on energy scheme leaves taxpayers facing £200m loss

Cash-strapped Thurrock Council in Essex borrowed £655million of public money - the equivalent of triple what it spends on services each year - to invest in 53 solar farms across the UK.
www.dailymail.co.uk www.dailymail.co.uk
 
I live in a County that was controlled by Conservatives Councillors for over 20 years. They ran up enormous debts, but also managed to get on Panarama for failing childrens services. Many seem to be driven by self-interest. Also some decisons were just poor, like building a new shopping centre offering big incentives for retailers to move in, while internet shopping was booming. Hence the main store is now empty (former Debenhams). They made decisions without involving any other councillors, who found out what was going on through local journalists. They wanted to build a relief road at a cost of £330m (their estimate in reality it would be more) for a city of 50,000 people.
 
Redwurzel said:
I live in a County that was controlled by Conservatives Councillors for over 20 years. They ran up enormous debts, but also managed to get on Panarama for failing childrens services. Many seem to be driven by self-interest. Also some decisons were just poor, like building a new shopping centre offering big incentives for retailers to move in, while internet shopping was booming. Hence the main store is now empty (former Debenhams). They made decisions without involving any other councillors, who found out what was going on through local journalists. They wanted to build a relief road at a cost of £330m (their estimate in reality it would be more) for a city of 50,000 people.
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The intent of every tory politician, whether local or national, is to funnel public funds to themselves via their dodgy 'business' mates. That is all.
 
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