See the excerpt below from the Budget Meeting of the 3rd March 2025.
Wirral Council – possibly going bankrupt soon – are currently £322 million in debt. LOBO loans have now reduced to £51 million, but what the council will never admit is: they SHUNNED the much cheaper Public Works Loan Board option thanks to whizzkid Finance Director Ian Coleman, who in the early 2000s thought it would be a great idea to take out £295 million of LOBO loans with eye-watering interest rates that didn’t expire until the year 2078.
He was shielded, gagged, given a clean bill of health, paid off £82,000, which helped to tide him over, before he walked into a top post in the private sector.
Council tax payers will be footing the bill.
We are where we are today due to elected / unelected rogues.
Return to Bomb Alley 1982 – The Falklands Deception, by Paul Cardin
Amazon link
Wirral In It Together 