People can't see this.
We will have council members who don't follow football but will ask why a council has to be guarantor to a billionaire who owns a football club in a multi billion pound industry.
People can't see this.
We will have council members who don't follow football but will ask why a council has to be guarantor to a billionaire who owns a football club in a multi billion pound industry.
Part of the deal is Everton have to take out insurance policy to cover any failure to pay.
Market trader
Player Valuation: £1m
Good! I have no idea what it would cost.
It's a pretty reasonable question to ask TBF
roydo
in memoriam - 1965-2024
Not really. LCC wont be guarantor to anyone.
Toast
Player Valuation: £80m
Imagine Kenwright phoning up Direct Line for the quote though..
I don't think the specifics of the deal are the problem. The issue is that the council is involved in assisting the build of a football stadium at the same time as food banks being an actual thing
roydo
in memoriam - 1965-2024
Well take the emotional pulls out, and in the same way that councils every single day place £000000s into over night money markets to glean a few bob in interest "income", LCC are using a facility to increase the cash they receive every year for 20 plus years.
They are not loaning the money. They are using their existence as a Council to secure funding for a capital project from central Government. They couldnt do that for a food bank.
Fair enough Roydo - but part of running the council is making the general public believe that the 'little man' is being cared for.
Every time a bin doesn't get emptied we hear the same moan - 'What does my council tax go on'? We aren't allowed to answer honestly to the public and say 'Education and Social Care' so we have to essentially say nothing
The council are going to get antsy about asking the plebs to understand the complexity of whatever deal is being brokered.
roydo
in memoriam - 1965-2024
I take it you work for LCC.
I dont get why you cant tell folk what gets spent, and on what. I get a letter every year from my council setting out every single penny of what goes where. Granted, its a county council, not a City one, with ergo, differing issues to deal with. But nevertheless, my council did a similar thing LCC are doing for some thing or other, and explained exactly why, and the benefits the deal would deliver.
Not for LCC, but for another local authority
We do tell the public where the money gets spent (It's on all forms of literature and on the website) but the vocal majority (16-64 year olds) tend to ignore/dislike the fact that all the money goes on young and old people rather than themselves.
It's easier to assume that all the extra money goes on christmas parties, company cars and biscuits rather than the harsh reality of it actually being the 4 kids and 2 living grandparents within each family.
Which just goes to show the calibre of some local councillors. Thick as 2 short planks. Maybe we get the city we deserve.
roydo
in memoriam - 1965-2024
It must be hugely frustrating.
Every single issue, be it a pot hole or a speed bump, is the councils fault, but the 99% of stuff they do that is largely unseen, is ignored.
Market trader
Player Valuation: £1m
Of course it is a loan; it's from the Public Works Loan Board. To fund it, the government has to borrow the money to lend to the council, and that reduces what the government can borrow for its own purposes. (Expect it to be cut back for that reason and because councils are fuelling a publicly funded property boom. See Room 101.)
roydo
in memoriam - 1965-2024
Oh come on. Central Government allowing LCC access to an already budgeted finance source, for circa £300m is a flaming pin hole in the scheme of things. Its like you lending 50p to your neighbour.