Mayor Dave drives down debt freeing up £1 million more for vital services

Bedford Borough Council's debt has been slashed by £30 million since Mayor Dave Hodgson was elected. The Conservative-run County Council left around £90 million of debt to be paid back by Bedford Borough residents for years to come. With the debt now at a more manageable level and falling each year, around £1 million more can be spent on services each year rather than debt payments.

The latest figures from Sky News show Bedford Borough Council spends a lower proportion of its budget on debt than all of its neighbours and at one of the lowest rates in the country. For comparison, Bedford Borough Council spends around 2.5% of its spending on services on debt, whereas Conservative-run Central Bedfordshire Council spends almost double that proportion (4.85%) on debt. Four out of the top five local authorities with the highest proportional spend on debt are controlled by Conservatives with the top two spending more on debt than they do on services.

Finance Portfolio Holder Councillor Michael Headley said "This data confirms what we already knew: Conservatives can't be trusted with public finances. With a manifesto filled with uncosted promises, the Conservative Mayoral Candidate is no different.

"Whilst their party borrows excessively across the country, we have one of the lowest amounts of borrowing of all unitary councils, which means we spend less on interest payments, so there is more for services to residents. This is despite inheriting £90m of debt from the old Tory -run County Council, that we have managed to reduce to £60m. Because of our actions and strong financial management, we now have £1 million more for services rather than funding debt."