Many residents are rightly worried about the eyewatering £175 billion budget deficit for 2009 created by the Labour Government, saddling the UK with huge debts for years to come. Worryingly for Bow Residents, this financial mismanagement is mirrored by the Labour run Tower Hamlets Council with a needless overspend.
Tower Hamlets Conservatives have regularly exposed Council waste, while this Labour Council is busy spending taxpayers’ money on even more advertising campaigns. Council officers have now told the Labour Party that the Borough is in a serious financial position and presented an urgent report showing that the Council is forecast for an £8m overspend.
* Council propaganda rag: Eastend Life's shortfall in advertising revenue accounts for £280,000.
* The rent on the council offices in Mulberry Place is an £800,000 overspend.
This is equivalent to a 12% increase in Council Tax, unlike the Conservative budget presented by Cllr Tim Archer last year, which was fully costed and would have seen more police on the streets with a freeze in council tax.
With a Council that wants to be involved in everything, it’s no wonder.