Borrowing money for road repairs in Bucks ruled out

Bucks County Council
Bucks County Council

Bucks County Council’s cabinet has rejected calls to borrow millions of pounds for road improvement works.

The cross-party finance, performance had demand the cabinet consider the ‘principle’ of prudential borrowing – without naming an exact figure.

They said it made sense to borrow money at a low interest in order to carry out the work.

Leader Martin Tett admitted the issue was ‘contentious’ but said there was no way the cash-strapped council could afford to repay the loan without it impacting on services.

His cabinet agreed with him. Mr Tett said the ruling Tory group also backed his stance at a private meeting.

Background: Insane! Council’s leader’s anger at prudential borrowing.