Cllr Ian Stephens, leader of the Island Independent councillors, shares this latest. Ed
The Island Independent Group has today published its alternative budget proposals which seek to find ways to counteract the continued effects of Government austerity which are demanding £7.5million be removed from Isle of Wight Council resources this year.
Refinancing the PFI Contract
Extensive research, conducted with the assistance of the Local Government Association has found that it is possible to refinance the PFI Contract under which Island Roads looks after highways on the Island.
This is an approach that has been undertaken in other authorities which, without any adverse effect on the contract to maintain roads on the Island can be rearranged and restructured reducing the average interest rate from 4.5% to 2.6% enabling another £2.2million back into supporting services rather than paying bank interest.
Full details are contained in the proposal which has been submitted for consideration at the Council budget meeting on Wednesday.
Reverse many Adult Social Care cuts
The money released into the budget by these proposals can be used to reverse many of the cuts proposed by the Conservative Administration in the field of Adult Social Care which are set to remove services and support from many of the most vulnerable in our community.
The Island Independent Group takes the approach that the Council should be looking carefully at its finances to address the effects of continually reducing Government support rather than just imposing cuts to meet the requirements of Government austerity.
Protecting Branstone Farm and more
In addition the Independent proposals seek to ensure a future for Branstone Farm, which has been run down by the current Administration and to make investment into the Rights of Way network.
Taylor Road, Newport has been identified within our proposal as the first site to be developed within a local partnership, as a continuation of Independent policy, recognising the plight of those unable to afford a home.
Stephens: An “achievable and responsible way forward”
Councillor Ian Stephens, Leader of the Island Independent Group, said:
“We fully accept that constructing a workable budget in the current situation is a difficult task. However this is a much better approach to that being put forward by the current Conservative Administration. Island Independents offered this budget amendment as a way forward last year, as within our number we had a Councillor colleague who had drilled down into the contract.
“Today we offer this yet again, as an achievable and responsible way forward, which we have researched off Island with financial professionals. Why is there a reticence of the Conservative IWC administration in grasping this prudent opportunity to pay for care and reduce interest payments to International banks?”
Smart: “Proposed measures adopted successfully elsewhere”
Councillor Shirley Smart, Deputy Leader of the Island Independent Group, said,
“We must try and work harder to get the Government to recognise our position as an Island and the unique financial challenges we face. In the meantime we continue by looking carefully at how the Council operates with our understanding of the Council’s loans and financing of the PFI project which can be better restructured.
“We have had extensive assistance from the Local Government Association in this regard and have proposed measures that have been adopted and applied successfully elsewhere in the Country.”
The alternative
See the line-by-line details below of where Island Independents plan to reverse the Conservative administration’s proposed cuts.
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Image: davedugdale under CC BY 2.0
