IS it really ‘good news’ that Warrington Borough Council is setting itself up as a commercial landlord by purchasing Birchwood Park and other business premises?
Is the council sure that the claimed rental income can be guaranteed in these uncertain times?
In the past ‘new income opportunities’ such as this have not always been successful. Those of us with longer memories recall that back in the 1980s local authorities started loaning their temporary cash flow surpluses to Icelandic banks, who were offering higher interest rates than traditional institutions.
That all finished in tears of course, when the Icelandic Banks went bust.
Let’s hope this latest initiative doesn’t end up the same way.
CHRIS HAGGETT Penketh
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