A J SANT wrote in Messenger last month asking about the amount of debt built up since Labour came to power in Trafford.
I can confirm that the loan debt of Trafford Council in March '95 when Labour first had a majority was just over £77.2 million, which worked out at £354 outstanding debt per head of population. By the end of March last year the figure had risen to £105.5 million loan debt aornd £482 outstanding per head of population.
In other words, in just four years the loan debt is up by a massive £28.3 million, an extra amount of £128 debt per head of population, according to information printed in a booklet titled 'Greater Manchester Association of Metropolitan Treasurers' 'Facts, Figures and Finance'.
There will be a new publication giving statistics through to the March this year published shortly. I, for one, will be interested to see whether there has been another increase.
As to A J Sant's question 'how does the council intend to reduce the capital debt, without a substantial hike in council tax next year', I would love to know, especially as Labour keeps raising council taxes by approximately 5 per cent per year - well above inflation.
Cllr Edith Eadie, Conservative.
Converted for the new archive on 13 March 2001. Some images and formatting may have been lost in the conversion.
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