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Shapps: Labour councils are 'sitting on cash' as services ar
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Author:  Amnesia10 [ Sun Apr 17, 2011 11:36 pm ]
Post subject:  Shapps: Labour councils are 'sitting on cash' as services ar
Shapps: Labour councils are 'sitting on cash' as services are cut

http://www.telegraph.co.uk/news/uknews/ ... e-cut.html

Quote:
While Ed Miliband, the Labour leader, has attacked the Coalition for cutting state spending, a new analysis of council figures suggests that Labour’s own local authorities are hoarding cash instead of using it to keep services open.
Grant Shapps, the Conservative local government minister, accused Labour councils of “totally unacceptable” behaviour and urged local authorities to be more willing to spend their reserves.

Idiot. Reserves are there for an emergency, even BP is slashing jobs even though it has a $7 billion cash pile.
Author:  Nick [ Mon Apr 18, 2011 6:13 am ]
Post subject:  Re: Shapps: Labour councils are 'sitting on cash' as services ar
But reserves of cash aren't there to keep services running day-to-day, they should fund one off investments and act as a contingency. :?
Author:  MrStevenRogers [ Mon Apr 18, 2011 10:46 am ]
Post subject:  Re: Shapps: Labour councils are 'sitting on cash' as services ar
Nick wrote:
But reserves of cash aren't there to keep services running day-to-day, they should fund one off investments and act as a contingency. :?


or boost the management pension/bonus funds ...
Author:  paulzolo [ Mon Apr 18, 2011 11:18 am ]
Post subject:  Re: Shapps: Labour councils are 'sitting on cash' as services ar
I smell a trap. The Tories want the councils to spend all that they have, so they can then bitch about them not saving for a rainy day. Stupid Tories. :roll:
Author:  hifidelity2 [ Mon Apr 18, 2011 11:21 am ]
Post subject:  Re: Shapps: Labour councils are 'sitting on cash' as services ar
Nick wrote:
But reserves of cash aren't there to keep services running day-to-day, they should fund one off investments and act as a contingency. :?

Ahh but is the level of that reserve that needs to be identified not just is £ value

If a council is keeping a 5% reserve then that might be OK - what if its a 200% reserve - and don't forget the Politics in this - its good for a Labour council to cut / hold back on services so that they can blame the goverment.
Author:  belchingmatt [ Mon Apr 18, 2011 11:45 am ]
Post subject:  Re: Shapps: Labour councils are 'sitting on cash' as services ar
paulzolo wrote:
I smell a trap. The Tories want the councils to spend all that they have, so they can then bitch about them not saving for a rainy day. Stupid Tories. :roll:


Typical labour supporters comment. :P
Author:  Amnesia10 [ Mon Apr 18, 2011 11:47 am ]
Post subject:  Re: Shapps: Labour councils are 'sitting on cash' as services ar
hifidelity2 wrote:
Nick wrote:
But reserves of cash aren't there to keep services running day-to-day, they should fund one off investments and act as a contingency. :?

Ahh but is the level of that reserve that needs to be identified not just is £ value

If a council is keeping a 5% reserve then that might be OK - what if its a 200% reserve - and don't forget the Politics in this - its good for a Labour council to cut / hold back on services so that they can blame the goverment.

Do you honestly expect a council to have reserves that high?
Author:  Spreadie [ Mon Apr 18, 2011 11:47 am ]
Post subject:  Re: Shapps: Labour councils are 'sitting on cash' as services ar
hifidelity2 wrote:
and don't forget the Politics in this - its good for a Labour council to cut / hold back on services so that they can blame the goverment.

That is why I hate politics and politicians. They'd gladly disadvantage a whole community/region, just to score a point at PMQs.

They're all so frikkin intent on pulling in opposite directions, and screw the net effect it has on the country.
Author:  Linux_User [ Mon Apr 18, 2011 2:04 pm ]
Post subject:  Re: Shapps: Labour councils are 'sitting on cash' as services ar
Nick wrote:
But reserves of cash aren't there to keep services running day-to-day, they should fund one off investments and act as a contingency. :?

+1

Also, IIRC, central government set minimum limits of what councils should hold in reserve.
Author:  hifidelity2 [ Mon Apr 18, 2011 3:32 pm ]
Post subject:  Re: Shapps: Labour councils are 'sitting on cash' as services ar
Amnesia10 wrote:
hifidelity2 wrote:
Nick wrote:
But reserves of cash aren't there to keep services running day-to-day, they should fund one off investments and act as a contingency. :?

Ahh but is the level of that reserve that needs to be identified not just is £ value

If a council is keeping a 5% reserve then that might be OK - what if its a 200% reserve - and don't forget the Politics in this - its good for a Labour council to cut / hold back on services so that they can blame the goverment.

Do you honestly expect a council to have reserves that high?


I don't know but what is the "correct" level of reserves ? - no one has answered that
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