Rob Lloyd's Blog
Councillor Rob Lloyd serves on Stourport Town Council and is actively involved in local community projects, also working part-time as a volunteer classroom assistant at St. Bartholomew's Primary School. Rob has been a resident of Areley Kings, Stourport for more than 50 years.
Rob writes here about important issues.
Better Than Fair Taxation? 13th October 2018
Generating £125,000 from a business venture...
Using it to help fund public services in Wyre Forest, refuse collection, for example...
Better than raising the same sum from fair taxation?
Let's look at the issue in greater detail.
Wyre Forest District Council has spent £6million of borrowed capital to invest in business in Solihull. The return over the next four years is predicted to be £125,000 per annum. But this is a business venture. What guarantee is there that the business climate won't tip downward and reduce this sum substantially? How will the services it was meant to fund be able to continue?
We know why the Conservative administration of the district council are resorting to business speculation. Since 2010, Conservatives in government have been removing revenue support grant, (funded by taxation), from all councils. It will reduce to nothing next year in Wyre Forest's case.
But fluctuating income from business activity is not a reliable source of funding for public services. Fair taxation, covering a bigger financial base and able to spread the risk of shortfalls, is much preferable.
Fair taxation - another issue for an incoming Labour government to address.
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