Council reserves: £1bn strategy ‘long overdue’

Commenting on today’s publication of a Labour government written statement, in which the Public Services Minister sets out his plans for councils to deal with reserves more transparently – and in which he confirms one billion pounds in earmarked and non-earmarked reserves as of March 2014 – Welsh Conservative Shadow Minister for Local Government, Janet Finch-Saunders AM, said:

“Labour has held the purse strings since 1999 and a strategy for councils to better deal with reserves is long overdue.

“Inconsistencies are clear and taxpayers will rightly question why this money has been deal with differently by each council for the last 15 years.

“Similarly, eyebrows will clearly be raised at the one billion pounds currently sitting in council vaults right across Wales.

“Worries over management of council reserves should have been addressed by successive Labour-led governments years ago.

“Many tens of millions have been spent on council chief execs who earn more than the prime minister in Wales and the opportunity to freeze council tax has been ignored; all while Labour has been calling the shots.

“Community services have got to come first and, as Labour ministers look at consistency and transparency, they could begin with an apology for their past mistakes.”