Building
To plug £75m council deficit, 1500 jobs must go.
The devastating impact of the Government’s spending cuts has become apparent as a West council leader announced 1500 job losses to plug a £75 million deficit.
The vast majority of planned building projects will be stopped. Two thirds of the 60 county-owned farms are likely to be sold. One town library will close temporarily later this month and six others face a temporary cut in hours pending discussions with focus groups about how the service can be provided. But unions have criticised the authority for exacerbating the dire financial situation by refusing to increase council tax next year.
Halting building work means there will be no new £8m school in Yeovil to replace the aging Grass Royal, Reckleford and Pen Mill schools. The planned £6m pedestrianisation of Taunton town centre is also shelved, as is a £300,000 scheme to convert a GP surgery in Castle Cary into a children’s centre.
Councillor Ken Maddock said,
We have a debt level in this county council of more than £350 million, with projections that it will reach £400 million before it can come down. Servicing that debt is our second biggest bill, not financing roads, not looking after vulnerable people, not improving schools, but debt.
Total losses = 1500
Source: This is Somerset
April Losses
Freedomdirect     17 April    108
Aveva     17 April    80
Roger Bullivant     16 April    95
Air France-KLMÂ 2500-3000 April 15
Hallmark 750 April 14
Siemens     14 April    45
Russian Railways 53700 April 9
RSA     9 April    1200
LyondellBasell 3000 April 8
Michael Page     8 April    809
RBS     7 April    4500
BA     3 April    300
Filtrona Filters     2 April    233
AVX      2 April    130
Bombardier Inc 3000 April 2
Aviva     2 April    1100
EDC      1 April    260
Jarvis     1 April    450
Co-op     1 April    140
Mountgrange have gone into administration.
Edinburgh’s biggest development project in a decade has been put on hold after the firm behind it went into administration.
The £300m Caltongate development by Mountgrange Capital has faltered after the developer said the Bank of Scotland had pulled out its financial support.
Mountgrange said the bank had classified its loan as a “toxic asset”.
The development in the city’s Old Town attracted hundreds of objections from campaigners and heritage groups.
The plans included a luxury hotel, an office complex and 200 homes.
It was the biggest project in Edinburgh since the construction of the £414m Scottish Parliament, and was expected to take up to five years to complete.
