25/06/2026
Let’s clear things up:
Some people are claiming Reform has simply taken credit for work the previous Conservative administration had already done.
Others are suggesting we’ve only managed to reduce debt by cutting services.
Neither is true.
What we’ve actually done is repay expensive debt early.
Think of it like paying off a credit card or part of your mortgage ahead of schedule.
Yes, there’s a one off cost for settling it early.
But by doing so, you avoid paying years of interest, leaving you significantly better off in the long run.
That’s exactly what we have done.
The latest announcement saw the Council repay a further £26.9 million of external debt ahead of schedule.
As a result, the Council’s external debt has fallen from £130.5 million to £103.3 million.
Most importantly, experts have advised that repaying these historic loans now will save taxpayers around £2 million every year in interest for more than 20 years.
That’s money that can be spent on local services instead of servicing debt.
I’ve also seen claims that this has only been possible because we’ve cut services.
Again, that’s simply not correct.
The repayments have been funded through efficiencies, underspends and a major efficiency programme, that is identifying around £60 million a year in savings.
That’s about running the Council better, not asking taxpayers to pay more.
One final point.
The Capital Strategy some people are quoting to suggest more borrowing was approved by Reform, was approved before Reform took control. It’s literally Tory borrowing which is funny as they’re the ones trying to blame it on us.
In fact, one of the reasons we’re carrying out our major efficiency review is to reduce reliance on borrowing, not increase it.
Politics often generates more heat than light.
The facts matter.
Less spent on interest means more available for the services residents rely on.
That’s just common sense.
