Borrowing money for road repairs in Bucks ruled out

Bucks County Council

Bucks County Council

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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.