Council spending: 'We all put our hands up for these projects'

by Peter Winter

Reporter:

by Peter Winter

Email:

peter.winter@thechronicle.uk.com

A COUNCILLOR has warned colleagues a more a cautious approach will be needed when spending on future projects is considered.

William McCandless was speaking during debate on loan approvals that will bring the council's accumulated debt up to £77m.

It was explained to members at Tuesday's meeting of the Corporate Policy and Resources Committee that low-interest loans are used to finance virtually all 'capital projects' initiated by local authorities across Northern Ireland

Cloonavin spends annually around £9-9.5 m servicing and repaying loans out of a total budget of £60m.

*Read full reaction inside this week's Chronicle.

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