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non sibi sed omnibus

Would you sponsor your local authority or school.

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Reading about St.helens looking for funding and wakefield schools acadamies failing etc And looking for new sponsors for their academies.Would you sponsor any part?As a possibility why shouldnt residents LOAN their council money at a reasonable COMMERCIAL RATEand get interest at a higher rate than the banks give?Many years ago when worked for st.helens.There was the availability for the council to take and give SHORT TERM LOANS to businesses .So surplus funds could be loaned etc.Surely there must be many people with reasonable amounts just sitting in banks. 

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Alan    2,051

I'm sure you are correct about Councils needing funds and able to offer better interest rates than banks. However, for very good reasons, people with money in the bank distrust most councils' ability to handle their affairs professionally.

To give you an example, a case in Cumbria will shortly hit the national headlines, maybe it already has done, I haven't opened my paper today. Cumbria CC subcontract road repairs to a huge company called Amey. Apparently they withheld payment to Amey to the value of £4million due to a dispute. Amey took them to High Court, were awarded the money plus their own costs of about £10 million. The Cumbria County Council costs were also £10 million approx.

From all of the above Cumbria CC has cost the tax-payers £20 million on top of the originally disputed bill of £4 million. If that sounds bad, just get this next bit. The Council is unable to identify which employee or employees originally withheld the £4 million payment due or the reasons for it!

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HORT    1,091

Why sponsor your local school when the Government is to waste BILLIONS of pounds on HS2?

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