Council debt slashed under Mayor Dave’s leadership
In the latest Budget announcement, it was revealed that the Council's external debt has continued to fall over the past year from £69 million to £65.7 million. This is another huge reduction from the £90.7 million of debt that the administration inherited when the Council became a unitary authority in April 2009, just before Mayor Dave Hodgson was first elected. Mayor Dave said "When I was first elected it was so frustrating to find that we had a huge amount of money tied up in interest payments and debt repayments. We have been managing our debt level by making savings wherever we can whilst still maintaining quality services and limiting borrowing. Less debt means we have more funding for projects that matter to residents, such as tackling climate change, investing in our town centres and protecting green spaces. This is fantastic progress in very difficult circumstances."
