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Council's [Pound]29m debt 'not as bad as it looks' We've adequate assets, says mayor
- Article from:
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Belfast Telegraph
- Article date:
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June 5, 2004
- Author:
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Copyright informationCopyright 2004 Belfast Telegraph. Provided by ProQuest LLC. (Hide copyright information)
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NEWTOWNABBEY Council's [Pound]29m debt level is "nowhere near as
bad as it looks", the borough's new mayor has argued.
The Belfast Telegraph last week revealed that Newtownabbey topped
the local government borrowing league, owing [Pound]562.24 for every
voter in its district.
But Ulster Unionist councillor Ted Turkington, who took over as
Mayor this week, has stressed that it has more than enough assets to
cover its debt.
A statement issued by the council made a similar point: "The
capital indebtedness of a council is a reflection of the scale of
facilities and services provided for ratepayers," a spokesperson
said.
"Newtownabbey has fixed assets approaching [Pound]80m and this
year's rate ...