Give £10m To Help Those Struggling In Cost Of Living Crisis, Plaid Cymru Councillor Demands

Plaid Cymru councillor Greg Ead has called for £7m extra to be pumped into a cost of living hardship fund set up by Caerphilly County Borough Council.

Councillor Greg Ead, who represents Penyrheol ward. said: “The council now has more than £180m stuck in the bank and they’ve just announced another £38m underspend for the last financial year.

“While I welcome the setting up of a hardship fund, it is frankly not being funded anywhere near enough given the financial crisis that many people are facing and the size of the council’s reserves. That’s why I want the fund increased from £3m to £10m.

“The council leader has tried to justify the size of the budget arguing if they spent some of it every time opposition councillors called for it to be used, the money would soon run out. Trouble, with that argument, is the reserves are higher than they’ve ever been.

“The £3 million represents 1.66% of the total amount of reserves not counting the recent yearly underspend of £38 million of which it is 8%. Hardly breaking the budget is it?”

“Labour is talking about saving money for a rainy day  - perhaps it’s time the out-of-touch council leadership stepped outside and then they would see it is really pelting down.  They have the third highest reserves in Wales, far more than Labour-run Cardiff Council, which is Wales’ largest local authority by far.

“Frankly, with savings interest rates also rising significantly  I wonder how much more they will have in reserves by this time next year. What excuse will they think up then?,” added Councillor Greg Ead.

Councillor Lindsay Whittle, leader of the Plaid Cymru group, has compared the level of the council’s reserves to a Euro Lottery win. “The difference is that a lottery winner will spend some of their earnings and still earn huge amounts of interest.

“ The public will be justified in asking that if the council had been managing its finances well why has it ended up with a £38m underspend at the end of the financial year?”

his time next year. What excuse will they think up then?,” added Councillor Greg Ead.

Councillor Lindsay Whittle, leader of the Plaid Cymru group, has compared the level of the council’s reserves to a Euro Lottery win. “The difference is that a lottery winner will spend some of their earnings and still earn huge amounts of interest.

“ The public will be justified in asking that if the council had been managing its finances well why has it ended up with a £38m underspend at the end of the financial year?”


Be the first to comment

Please check your e-mail for a link to activate your account.

A New Caerphilly starts with you!

They have the money but we have the people. If everyone who visits this website joins our movement, we can make Caerphilly matter! .