David Walker, campaigner in Whittington Division, issued a Press Release ahead of the Public Accounts Committee inquiry into local councils buying commercial property that starts on Monday. The Shropshire Star has used some of it here: https://www.shropshirestar.com/news/business/2020/05/08/council-questioned-over-shopping-centres/
My Press Release: Public Accounts Committee inquiry into council commercial spending
07 May 2020
Commenting on the news that The Public Accounts Committee will look at Shropshire Council’s £52m shopping centre purchase as part of their inquiry into local authority commercial investment, David Walker said: “The purchase of these shopping centres represents a huge risk to Shropshire Council’s finances. Senior administration members seem to have forgotten it isn’t monopoly money they are playing with. Or indeed their own money. They are risking public money!”
The inquiry will be looking to see if the Government Department has effective oversight of the risks to the financial sustainability of local authorities investing in commercial property. The Public Accounts Committee will look at these purchases on the 11th of May.
David Walker is a Civil Engineering Surveyor who has worked in the property and construction industry for over 30 years…