Can this Town afford this level of borrowing in the long term? I suspect the majority of this will be to be repaid over a very long term, I dread to think what the repayment cost are.
There appears to be a Viv Nicholson spend , spend, spend attitude within the controlling group.
Hartlepool deserves better.
More electioneering gold dust against the ruling group.
Yes LP but how do you get the information out there to the general public and, more importantly, get them to see the consequences to care and become involved?
There are plenty of people in Hartlepool who have no idea that local elections are about to be held and they certainly have no intention of participating.
Recent Freedom of information request I made to HBC regarding Loan Repayments.
No prizes for guessing why they have been using the councils machines to print their IBS enducing propoganda.
...
In response to your recent Freedom of Information request I am writing to provide the information requested. Before providing this information I think it is important to explain that all Councils borrow money to invest in assets, such as schools, roads, coast protection etc. This position reflects the national system for funding capital investment by Councils in assets which have longer term benefits and use by the community. Up until March 2008 all Council borrowing had to be approved by the Government. From April 2008 the Government introduced a new system known as the Prudential Borrowing regime which all Councils must follow.
At 31st March 2015 the Council had total loans outstanding of £83.896m, this included loans outstanding from borrowing approved by the Government up until March 2008 of £76.3m.
The loans outstanding at 31st March 2015 of £83.896m equates to 31% of the value of the Council's assets of £274m.
In accordance with national regulations Councils repay loans over a number of years based on the operational life of assets. On this basis loan repayment costs account for approximately 6% of annual Council Tax bills.
The attached tables provide the information requested.
Kind Regards
Chris Little
Chief Finance Officer
Hartlepool Borough Council
It would be nice to the referred to tables, atbb
so the extra £3m must be the borrowing between March 2015 and March 2016. Is that right?
Ive found the tables atachment on the email ill try and post it up later today.
ive attached the entire file hope it was successful
Many thanks for bringing this figure of £87, 000,000 to my attention lord elpus, can you tell me whether this is the voters Labour controlled council getting us ( Hartlepool ) into more Debt ( I`m sorry to tell you there is no more money ) i forget the name of the Labour minister who left that note to the incoming Tory government.
Or is it always the Tory`s fault for all Hartlepool`s problems, the last time i looked there was only 3 of them. Can you advise