Conservatives say the Labour Council's Cash Stash Continues to Skyrocket
Labour has increased the cash reserves in every year since they took control of the Council. At the same time, they have also raised council tax by the maximum possible.
The argument over reserves played a big part in the recent local election, which saw the Conservatives pledge to move £2 million from the reserves into front-line services to deal with the complex issues surrounding homelessness.
At that time, reserves were estimated to be £165 million, but the latest figures for March show this has reached £201 million. This bumper cash stash is equivalent to £800 for every Milton Keynes resident.
The extra £36 million seemingly stashed in council coffers would be enough to fill an estimated 700,000 potholes or build 5 homeless centres.
Leader of the Conservatives Cllr Alex Walker said:
"Why are Labour are telling residents there’s no money to fill potholes, no extra money for homelessness and even no money to cut the grass, when they are stashing millions more in cash reserves?
"The level of reserves played a big part in the recent local election, and this just shows that Labour clearly haven’t listened.
“They continue to offer no real explanation as to how this money will be used. This is taxpayers’ hard earned cash, and people want to see it invested.”
The Lib Dems who run the Council in partnership with Labour are putting a motion to Full Council on Wednesday 20th June defending the current level of reserves.
