At a time when services are being pared to the bone, our roads are beginning to look like the moon, retailers are under huge pressure and shopping habits are changing dramatically, buying these retail sites is a massive white elephant.
Even if this investment brings in money in the short-term, the long-term downside and risk is significant and represents a poor use of public money to fix a problem of the Conservatives own making. Shropshire Council is facing a £59m shortfall in its finances by 2020.
That £51m could have been better spent on roads, Street Lights, housing and other key capital projects, at less risk, and with a bigger return on the investment., that could have reduced the burden
Would that money have been better spent directly supporting the 1000s of businesses in the county? Is this really a sound investment?
I would say, yes they should have directly supported businesses across the whole county to stimulate broader growth, and no this £51m isn’t a sound investment. It is a poor use of limited capital reserves that doesn’t do enough to fill in the gaping hole in the Councils revenue budget.