Pirate FM News

Keep up to date with the latest news delivered direct to your Inbox.

Anger Over £25 Million Loan For Controversial Incinerator

incinerator.jpg
Delicious Submit this page to reddit

2:54pm 4th October 2012

There is anger as it is revealed Cornwall could loan the people behind the St Dennis incinerator £25 million.

The Council says it is to cover SITA's costs, because the project to build the controversial waste burner has been delayed.

Officials insist it will be paid back and will not cost us a penny.

A statement said:

"The loan would be provided as a mitigation measure to reduce the increase in costs of the project due to the delay caused by litigation.  The loan will be repaid over the life of the contract with the annual repayments covering any financing costs the Council will incur; therefore the loan will have no impact on Council Resources.
 
"Cornwall Council can borrow at lower interest rates than SITA and therefore this injection of capital will make the overall borrowing costs less, which will in turn result in a lower cost to the Council."

Campaigner Pat Blanchard is not happy:

"I don't see how it can't impact on council resources. It means that that £25 million is less they have to spend on other services, which are under severe threat of severe cuts.

"You can come up with all the justification you like but the fact of the matter is that £25 million is a lot of money to come out of the council's budget and I really cannot understand that it won't have an impact."

2:54pm 4th October 2012

Share This Story

Delicious Submit this page to reddit
Suggested articles
drugs bust okehampton 3

PHOTOS: Quarter Of A Million Pounds Drugs Bust

Devon and Cornwall Police seize cannabis at farm

rivers funding

£2 Million Boost For Cornish Rivers

It will restore freshwater fish habitats in the Camel and Fowey

Most read
whiterock road wadebridge

Woman Dies In House Fire

'Brave' neighbour attempted to rescue her in Wadebridge

starlings 2

WATCH: The Weird Moment Thousands Of Birds Descend On A Cornish Village

It looks like something out of a horror film - but locals were horrified by the mess it left...

Top articles

Cornwall Man Accused Of Child Murder

Cornwall News: Matthew Scully-Hicks denies killing adoptive daughter

Pirate FM Cornwall News Update - 7th January 2016

Cornwall Video News: Officials say they’re holding talks to find new jobs for hundreds of workers in Bodmin.

Squatters braced for eviction over Buckingham Palace security

National News: Squatters in a seven-storey building just metres away from Buckingham Palace are preparing for the prospect of eviction after being branded a possible risk to the Queen's security.

VIDEO: Cats Die From 'Anti-Freeze Poisoning'

Cornwall News: Vets warn others are missing in Camborne and Redruth

Foo Fighters to headline at Glastonbury 2017

Showbiz News: The Foo Fighters have been announced as headliners for Glastonbury Festival 2017.

French prosecutors launch judicial inquiry into Francois Fillon 'fake jobs' claims

World News: French prosecutors have opened a judicial inquiry into claims Francois Fillon gave his wife a "fake job".

Rory McIlroy says game of golf with Donald Trump not 'an endorsement'

Sports News: Rory McIlroy has defended his decision to play golf with Donald Trump after a flood of criticism and abuse, saying it "was, quite simply, a round of golf".

Men and women 'need different things' to keep friendships alive

Strange News: Your ability to keep long-distance friendships alive may depend on your gender, according to a new study.

Newer article

Tweeting Dog Aims to Cut Arson

Cornwall News: Clever Nelson becomes UK's first four legged arson investigator to use Twitter

Older article

Redruth Rape

Cornwall News: Woman attacked on her way home from a nightclub

Cornwall's Pirate FMPirate Extra Footer LogoEscape to Cornwall radioLoveCornwall.com - The Cornish Business DirectoryPirate Education and Training

 

© Copyright Pirate FM

Pirate FM cannot be held responsible for the content of external links.