The Council was considering using the Greater Manchester Pension Fund to finance the new airport road. Pension funds are the only entities with any money around at the moment and are ripe for rifling. The LibDems in charge now seem to have been kicked into the long grass, fortunately.
They were also considering borrowing the money to fund the A6 to Airport Road from China! They would then be involved in currency risk – directly or indirectly – especially in the current unstable global markets. These are the people who failed to keep an eye on what was happening at SK Solutions and failed to ensure even basic accounting procedures were followed, so heaven help us all if they are let loose borrowing from China! Fortunately, that also seems to now have been kicked into touch.
What source of funding are we left with? They will build the road and over the next 60 years all the new businesses attracted into the Borough will all pay lots of business rates and that will fund the road. No, please don’t laugh – they are serious.
In other words the poor council taxpayer will shoulder all the debt and all the risks involved with this road, which it hasn’t even been proved is needed, and our children and their children be landed with the financial burden of paying this back.
