Swansea Council budgeting to bankruptcy

Andrew Davies Assembly Member for Swansea West has slammed Council leader Chris Holley for the financial state of Swansea Council.
Next year the city council is facing a £13million blackhole in it's finances or £6million if the Council cuts 4% across all services.

Andrew Davies AM
"The Lib-Dem administration are playing the blame game once again with their finances.
Let us be clear the reason the Lib-dem administration are in such financial trouble is because they have borrowed to their limit and have wasted money on projects such as the failed IT system service@swansea £83million, the Civic centre originally £8million and now £16million and the Leisure Centre originally £25million and now £34million.

"It is time the Lib-dem independent council come clean with the Swansea electorate, they have over borrowed and over spent and are in a financil crisis. They have failed to develop the bus station despite having £4million targeted at its re-development from the Assembly, they have failed to deal with the crisis of falling roles in schools and they have failed to deal with.

A report by the Wales Audit Office in december says the Council's budget forecast for 2008/9 identifies "significant and challenging resource issues", the council's unsupported prudential borrowing has soared by £36 million and doubled from previous levels." The increased borrowing, the costs of interest and repayments arising from it, are of particular concern when set against the backdrop of the savings requirements needed by the council".

"Not only is the Wales Audit office offering a stark warning but they have just announced that the over budget Leisure Centre will cost tax payers in Swansea £7 entrance for a swim while failing to honour the pledge by the Welsh Assembly Government to offer free swimming for the over 60's. "

"It is clear that the Council is budgeting to bankruptcy and are in complete financial turmoil, they must take responsibility for their incompetence

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