Wigan’s council leader was told that he should be ‘ashamed’ after questions were raised over ‘debts of £600 million’ and the authorities ability to fund the massive Galleries redevelopment. Councillor David Molyneux came under fire during the full council meeting at Wigan Town Hall this week after a Capital Programme report revealed the council had a capital financing requirement of £594 million.
The Capital Financing Requirement (CFR) measures the council's underlining need to borrow for future projects. Coun Steve Jones shared his ‘disappointment’ with this news, stating that this number has tripled over the last few years.
“We are borrowing over £600 million but we have heard nothing about this today,” he told the chamber.
