Peterborough City Council set to pay £10m on their debt interest alone!

CouncilMoney

For over 17 years, the Tories have been in control of Peterborough City Council.

In recent years, I’ve noticed a regular stream of announcements from the Town Hall, relating to the Council borrowing money, and so thought I would ask how much in debt we are in here in Peterborough.

At a formal meeting, I therefore held the Tory leader to account, and requested to know how much we owed as a local authority.

Cllr John Holdich responded that, as of a few months ago, Peterborough City Council had a debt of around £395,000,000 – with repayment of the loans ranging from 2 months to 49 years!

And, the total interest payment over the life of the “present” outstanding debt would be £405,000,000 – which equates to £10,000,000 paying just for the interest!

  • Speaking at the start of the year, the same Cllr John Holdich told the Peterborough Telegraph, “Since 2010 (when the Tories got into government) our central government grant has been cut by over half – a reduction of £57 million”, so it does make you wonder why he and his Conservative cronies have continued to vote for the Tories at Westminster?

One thought on “Peterborough City Council set to pay £10m on their debt interest alone!

  • Disgusting. This lot of Tories are a load of Turkeys voting for Christmas. What’s worse, so I understand, Marco offerred to cut the PCC budget when he was leader??? Sooner they get kicked out, the better.

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