SO, let me get this right.

Having seen the anguish and economic destruction excessive debt has, we learn that "Bolton Council has confirmed that it currently has nine LOBOS debt accounts which cover borrowing of £79 million" as reported in the Bolton News.

Averaging out the loan terms and interest rates on £79 million gives, a total repayment of £146,898,000 (with £67,898,000 charged) and a yearly repayment of £3,672,466 to 2055! Of course this would be a worst case scenario and is based on what is reported. The full accounts need to be examined however, these appear to show rising debt not reducing.

Good financial management, do you really think so?

Having seen the havoc wreaked with unapologetic Labour spending over a decade and a half; are we surprised that a Labour run Council has effectively done the same thing to our local finances?

Appropriately Lobos means Wolves in Spanish, the irony of that cannot be lost, and it is exactly where your hard earned and even harder paid Council Tax is being thrown.

Ainslie Casson

Church Walks