10 Feb 2012
The result is that the City of Edinburgh Council now carries over £1.5billion of debt, an amount that has risen by a staggering 66% over the last 5-years, and means that more than 10p in every £1 of Edinburgh taxpayers' money is now spent on servicing debt.
On top of this, the raid on reserves which has funded the pre-election largesse, which somehow leaked to the Evening News earlier in the week despite the budget proposals not being published, is the largest ever pre-election reserve spend in the history of the council at nearly £6 million.
Already our plans for a co-operative council with a consultative budget-setting approach is finding a lot of support on the doorsteps around the city. We have 83 days left to win that argument with enough people to allow us to put it into action!