The Conservative Group have displayed yet another U turn in their recent highlighting of the current level of debt held by the council, they have been fully aware of all borrowing that has been taking place over the last eight years and opposed none to date.
Further to this the Labour group inherited £89 million of debt, which in real terms is now £106 million, from when the Conservatives were last in administration. This included borrowing of £7 million to invest into an Icelandic bank, most of which was deposited after official credit warnings were issued.
This level of debt is also substantially less than our two nearest comparable neighbours, North Lincolnshire Council currently have debts of £157 million and the East Riding of Yorkshire has debts of £318 million, both of which are Conservative controlled councils.
It shows that our new Conservative bosses are more interested in headlines and finding excuses to fail, rather than getting on with developing serious policy. They wrote a lot of blank cheques in the last election, and residents rightly so expect them to deliver on their promises, we expect even more U-turns.