Wirral Bank budget plan


WIRRAL'S Cabinet members have backed a 4.4% Council Tax rise – and a bid to become a municipal bank.

The Monday meeting saw members back a bid for the council to investigate becoming a mortgage lender for residents who are being turned away by the big banks.

Labour leader Steve Foulkes says Wirral's expertise as the administering authority of Merseyside Pension Fund could see them offer mortgages to struggling house hunters and businesses.

Other budget points included a £690,000 allocation to Children's Services to attempt to prevent similar tragedies to the death of Baby P.

The Cabinet also backed a £170,000 bid to ensure payment within 10 days for small to medium sized businesses who provide services.

Intended to aid cashflow in the local economy, the money will replace the lost interest from revenue spending less time in the council account.

A new proposal will also see local apprentices used when investors build in Wirral.

The budget goes before full council on Monday, March 2, where Tory leader Jeff Green says measures will be opposed.

He said: “I hope they run a bank better than they run our libraries.

“I don't have the confidence in them to run a whelk stall.”

THE WIRRAL NEWS