Keep up to date with the latest news delivered direct to your Inbox.
Anger Over £25 Million Loan For Controversial Incinerator
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."
Share This StoryTweet
Injured military veteran scheme secures £3 million funding
The project will help with work and training in Cornwall
WATCH: Over £1 million to help Cornwall's homeless
And officials start work on rough-sleeper plan
Second report of 'fake' police car in west Cornwall
Read what to do if you think you're being followed
UPDATE: Overturned car blocks busy A30
This is why you got stuck at Victoria on Tuesday
Driver jailed after woman dies in Boxing Day crash
Cornwall News: It happened near Bodmin in 2015
Westminster attack: Inquest hears London killer Khalid Masood was shot in the chest
National News: Westminster terror killer Khalid Masood died from a single shot to his chest, an inquest has been told.
Ricky Gervais defends 'dead babies' joke at show in Belfast
Showbiz News: Ricky Gervais has defended a joke about "dead babies" on his latest tour, after bereaved parents walked out of a gig in Belfast.
Former Power Ranger Ricardo Medina Jr jailed after killing roommate with sword
World News: A former Power Rangers star has been jailed for six years after killing his roommate with a sword.
Bradley Wiggins calls doping questions 'the worst thing'
Sports News: Sir Bradley Wiggins has described the allegations of wrongdoing against him and Team Sky as the "worst thing to be accused of".
Fearsome Tyrannosaurus rex was a sensitive lover, say scientists
Strange News: He may have been the most terrifying carnivore ever to have walked the Earth but the fearsome Tyrannosaurus rex was apparently also a sensitive lover.