At Wednesday’s Full Council meeting there was a motion to increase the Borough Council’s authorised borrowing limit for 2017/18 be increased from £195m to £350m. “Why is this?” you may ask. Well to that question the order paper on it is illusive. Here.
Naturally this item on the agenda brought about some debate. They raised the authorised borrowing limit only in February this year and have got no where near the limit. As was pointed out by Ipswich Conservative Group Leader Iian Fisher. So why have they raised it? Councillor Fisher also asked this. This followed a period of smoke and mirrors by Ipswich Labour. Councillor Kriedwolf said that they need to borrow more becuase of austerity. Somehow in the debate it was ascertained that it is to extend IBC’s property portfolio. This made Councillor Ellesmere’s statement that it was to invest in public services sound like the utter squit it was.
Labour councillors mentioned that Conservative controlled Bournemouth council has recently done the same thing but also mentioned the fact that Bournemouth council have said what they want to spend it on, unlike Ipswich Labour.
Councillor John Cook then made the outrageous statement that investment isn’t gambling, obviously oblivious to the fact that there is no such thing as a business transaction without risk. He then said that buying the airport and building Ravenswood brought investment to the council. So they believe that making Suffolk the largest county without an airport was a good investment. If you call discouraging business to and from Ipswich and making our transport links worse by removing a mode of travel from Ipswich so that less investment and prosperity comes to the town, a good investment then either you are utterly bonkers or you are a member of the Labour Party whose main aim anywhere is to turn the place into a run down ruinous mess to make people more inclined to vote Labour so they can keep the dump they’ve created being a dump.
So now Ipswich Labour are going to create a big, nasty debt. But nobody knows what for.