http://www.theliberati.net/quaequamblog/2007/04/23/islington-labour-the-shopkeepers-friend/ crass, boorish and more a bruiser than blogger Thu, 28 Aug 2008 19:17:45 +0000 http://wordpress.org/?v=2.6.1 http://www.theliberati.net/quaequamblog/2007/04/23/islington-labour-the-shopkeepers-friend/#comment-46029 James Graham Mon, 23 Apr 2007 21:23:42 +0000 http://www.theliberati.net/quaequamblog/2007/04/23/islington-labour-the-shopkeepers-friend/#comment-46029 I did smell a rat about that as well (wouldn't you just love it if you inherited the running of a council that was having to pay off such a massive debt? Remind you of, well, pretty much every Labour-run council you care to mention?) but I didn't know the details. Thanks for the info. I did smell a rat about that as well (wouldn’t you just love it if you inherited the running of a council that was having to pay off such a massive debt? Remind you of, well, pretty much every Labour-run council you care to mention?) but I didn’t know the details. Thanks for the info.

]]> http://www.theliberati.net/quaequamblog/2007/04/23/islington-labour-the-shopkeepers-friend/#comment-46023 Peter Black Mon, 23 Apr 2007 21:13:51 +0000 http://www.theliberati.net/quaequamblog/2007/04/23/islington-labour-the-shopkeepers-friend/#comment-46023 I suspect that the Council would fall foul of borrowing rules if it tried to borrow against the value of the property. Under Prudential Borrowing they need to demonstrate an income stream to repay the money borrowed. The fact that they have an asset is not really relevant as local government borrowing does not work in that way as it does for private individuals. I suspect that the Council would fall foul of borrowing rules if it tried to borrow against the value of the property. Under Prudential Borrowing they need to demonstrate an income stream to repay the money borrowed. The fact that they have an asset is not really relevant as local government borrowing does not work in that way as it does for private individuals.

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