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Northampton Council £10M Loan To Private Company ?


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HOLA441
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I remember many people complaining about this loan at the time

http://www.bbc.co.uk/news/uk-england-northamptonshire-34996932

Northampton Town debt: Council says £10m loan 'will be recovered'

Sounds very similar to Trafford Council lending £4m to Lancashire County Cricket Club, earlier this year. Apparently the banks would not lend them the money.. but our cash strapped council thinks its a good gamble, whilst cutting services to those who need it most. But hey they are building a sparkly new hotel, so that's alright then.

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^

The Breckland council is reported to have funded the hotel etc purchase through the sale of housing.

The rent then obtained is presumably more than was obtained from the housing and its associated costs so it would better fund council wages and pensions.

Free/subsidised golf course membership etc for council people as well?

Edited by billybong
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