Author Topic: When is a loan to SCS a Loan ?  (Read 3992 times)

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Offline Ringer

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When is a loan to SCS a Loan ?
« on: December 02, 2010, 08:43:19 am »
In the SBC budget papers published on the internet, under the capital bit it points out that the 4 million loaned to SCS on 1st Jan 2010 has not been paid back as expected. I think in the leaders Christmas speech there was much waxing of SCS according to the papers they have not been able to meet the terms of the loan, It notes that they have paid back a significant amount, how much is that?

The council is a shareholder and if it is loaning money to businesses that it is a shareholder in should it not report in more detail the terms of the loan and the amout paid back and what is being done if it is not being paid back as per the loan agreement.

Also should it not be a decision taken before the council to vary the terms of a loan as it council tax payers money that pays for borrowing to meet capital borrowing. Interest paid on money outstanding, council tax reflects that interest payment dosen't it?

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Offline Des Morgan

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Re: When is a loan to SCS a Loan ?
« Reply #1 on: December 02, 2010, 10:58:55 am »
What you see much more of now than ever before is a situation where decisions on varying anything is left to officers and cabinet leads to determine.  It conveniently side steps the democratic process but according to those who like the rules, it speeds up decision making

Offline Steve Wakefield

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Re: When is a loan to SCS a Loan ?
« Reply #2 on: December 02, 2010, 01:23:21 pm »
What you see much more of now than ever before is a situation where decisions on varying anything is left to officers and cabinet leads to determine.  It conveniently side steps the democratic process but according to those who like the rules, it speeds up decision making

Des

Be careful or next you'll be claiming that expediency undermines democracy? Do you think  the strong leader cabinet model will make it more transparent?
All posts on this forum are my own and do not represent the views of any council or any political party.  :banana:

Offline Des Morgan

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Re: When is a loan to SCS a Loan ?
« Reply #3 on: December 02, 2010, 02:07:08 pm »
Sadly I do not. What the 'Strong Leader' model will give is the opportunity for a Leader to shape a Cabinet in his/her image.  The Leader is safe and secure for 4 years whereas the Cabinet is in his/her gift, so patronage will be a key factor in any future appointment. The Leader will be able to influence much more than they do at present.  I recall one time not so long ago when Coun Bluh was quoted as saying 'Councillors could go and see the Chief Executive but it was he who made the decisions' - i see that situation becoming more relevant.  What the model provides for is elected Mayor powers without the inconvenience of an election

Offline Geoff Reid

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Re: When is a loan to SCS a Loan ?
« Reply #4 on: December 04, 2010, 06:18:57 pm »
You've mentioned elected Mayor powers but forgotten to mention that an elected Mayor can be held to account by every voter in Swindon.

The 'strong leader' can only be held to account by a handful of councillors, many of whom will have benefitted from the leaders patronage in the form of cabinet seats and committee chairs. Voters in the leaders ward can only elect councillors to council, they have no influence at all over the choice of leader.

Trough and pork-barrel politics will continue unabated.

Offline Des Morgan

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Re: When is a loan to SCS a Loan ?
« Reply #5 on: December 05, 2010, 09:21:02 am »
And of course the current system whereby only a percentage of the council is elected selected each year is no guarantee of change.  I say selected becasue as we all know the party machine will continue to dominate within local politics.

Offline Drone

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Re: When is a loan to SCS a Loan ?
« Reply #6 on: December 05, 2010, 12:17:03 pm »
Quote
In the SBC budget papers published on the internet, under the capital bit it points out that the 4 million loaned to SCS on 1st Jan 2010 has not been paid back as expected. I think in the leaders Christmas speech there was much waxing of SCS according to the papers they have not been able to meet the terms of the loan, It notes that they have paid back a significant amount, how much is that?

Anyone got any info? Ballpark figures?
derp derp herp herp derp

 

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