Conservative’s Wokingham Town Centre plans are out of control
At last night’s budget council meeting the Lib Dems expressed their horror at spiralling costs being agreed by the Conservatives for their controversial town centre regeneration project. The Lib Dems are appalled that plans to spend keep going up and up yet the rest of the borough will have to foot the bill.
Cllr Prue Bray, Leader of the Lib Dems said “All the resources of the council are being sucked into this sprawling monster of a scheme, leaving the rest of the Borough with nothing for the foreseeable future.
"This time last year we were discussing a total cost of regeneration of £95 million of which £81 million was left to spend. This was already far too much but that £81million has now grown to a quite staggering £124 million. This is an increase of £42,128,000 or over 50% in just a year. The Conservatives are way past caring about the cost of regeneration. They’ve started believing money really does grow on trees. ”
Cllr Lindsay Ferris (Twyford ward) added, “All the other parts of the borough will pay for this. The cost of borrowing a and paying back the debt will be met not just by Wokingham town residents, but by residents in Remenham, Ruscombe, Twyford, Hurst, Earley, Woodley, Swallowfield and all points North, East, South and West of the Borough, all contributing to Wokingham town centre with little local benefit to themselves.”