Brick by Brick, which is the Council’s wholly owned subsidiary company, has not delivered the building programme that was expected. After ploughing millions of pounds into the company, the Council is not getting the loan repayments it expected and this has been a major contributor towards the
It has been a difficult few weeks as I have received emails, held meetings and listened to voluntary sector groups from across Croydon tell me about the devastating impact that Labour's cuts programme is going to have on groups that serve the most vulnerable in our town.
When Grant Thornton blew the lid on the disaster that is Croydon Council finances, one of the main causes was Labours ‘investment’ decisions and the huge amount of lending they had done to associated companies.
Councillors for some years now have received a pot of money annually to distribute to activities and projects that benefit the local community. The sum is not a large one, and totals only £8,000 per year.
