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What credit crunch?
Date: 09/07/2009
The year end financial reports for 2008/9 have been published by Darlington Council.
These reports detail income , expenditure, government grants and of course borrowing during the year.
Most people , certainly Darlington's residents but not it seems the
Council are fully aware of the effects of the Credit crunch on our
weekly budgets.
Darlington Council in its reports state there is a satisfactory outcome
to the year , what they don't say is that it is satisfactory only
because of high levels of borrowing and dipping in to the taxpayers
reserves.
Now where have we heard that before?
So what have they done to prepare for the more difficult times ahead? the answer is not much.
The controlling Labour group have carried on spending and borrowing as if there is no problem.
They tinkered a bit with aviaries and toilets and other bits and pieces
when setting the budget in March 2008 but none of this had any real
significance.
They say some of their borrowing does not impose costs on the Council
taxpayer as it comes from Government , correct however it imposes costs
on income tax payers which they seem to ignore in their
assessments.This of course suits socialist philosophy just fine.
We are advised there is now a real concern in the Labour group about
this and next year budget and of course there should be with predicted
cuts in public expenditure in double figures.
We all knew in 2007 the economic difficulties were a reality , this was
ignored and no steps were taken to plan for the hard times ahead.
All the council taxpayers have to date is political spin and no substance.
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