Forum Topic

Ealing Council Borrowings are £656 Million

Figures for Financial Year 2011/12 (ending 31 March 2012) show that Ealing Council's  borrowings are a mind numbing £656 million. Mind you the borrowings in the previous year were 'only' £510 million.Should we worry about this?As from next year Council's will have more borrowing powers and rumour has it that the Coucnil plans to borrow £50 million to rebuild part of Copley Close Estate. Who thinks getting further into debt is a good thing?

Eric Alan Leach ● 5000d5 Comments

Re    what that means per council tax payer?          xxxxxxxxxxxxxxxx    when this Govt's clamp on rates increase come off, which  it will have to at some time, then we will find out. Labour in Ealing have a history of swingeing increases, at least for those who pay, ( lots of their supporters may well be exempt for one reason or another ). I can remember an increase by them one year of 66% !!, yep, an increase in one jump of 2'3rds!!. And in their previous administration, an increase of 27% in one year. To vote Labour in Ealing you must either be rich, on benefits or round the twist.

Tony Price ● 4997d

Re  the unfunded deficit in the pension fund        xxxxxxxxxxxxxxxxxx    were we not told by NL that was the reason for immigration, so they could pay for OUR pensions?.  But if you look in the Council offices I think you will find it more a question of we paying for their priviledged  pensions?.

Tony Price ● 4997d

Don't forget you probably need to include the unfunded deficit in the pension fund which would take the total over a billion.

Andy Jones ● 4999d

Ouch!Anybody know what that means per council tax payer?

Tony Colliver ● 5000d

Generally speaking no it isn't Eric.Debts are only a problem if you can't pay them back with a bit to spare,as in a mortgage.A 30% increase would seem excessive though.

Keith Iddon ● 5000d