Debt crisis stalking city, warns Burns
Councillor Andrew Burns, leader of the Labour group in the City Chambers, has raised concerns about council debt.
Although the Liberal Democrat/SNP budget appeared to pass relatively smoothly last week, he claims that the city remains in a crisis.
Advertisement
Hide AdAdvertisement
Hide AdThe council has £1.5 billion of debt, although officials do not believe it is a cause for concern for a council of Edinburgh’s size.
Cllr Burns said the debt equated to £3000 for every man, woman and child in the city, costing the taxpayer £110 million a year in repayments, equating to 11 per cent of the annual revenue budget.
He said: “Glasgow may have grabbed the press attention, but here in Edinburgh there’s a quieter but much more serious slow-burning, financial crisis stalking the City Chambers.”