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Reserves can be used to create jobs claim Lib Dems

July 3, 2012 4:26 PM
By Simon Galton

Liberal Democrat Councillors on Leicestershire County Council are urging the Tory run Council to dip into its cash reserves to pay for measures to boost the local economy. They have submitted a motion to the Council Meeting tomorrow calling for £10m to be released from £110m the Council has set aside in reserves.

The Liberal Democrats will suggest a three-year package in which £6.5m would be used to establish a skills fund to help local businesses develop a skilled workforce and a Venture fund to invest in new companies and help established companies expand. At the same time the Liberal Democrats are also proposing to use £3.5m to reinstate funding for Highways maintenance and Public Transport which were cut heavily in the last budget.

Leader of the Liberal Democrats, Simon Galton said: "We have been calling for a review of reserves for several years now and the Conservatives ignored us every time. Now that their increasing stockpile of £110m has been revealed there needs to be a debate about how some of this money should be used to encourage jobs and growth in the County. "

Simon added: "What we are proposing are proactive solutions that use the Council's resources to provide a boost to the local economy at a time when it is needed most. The Council is in the position of being able to use some Tax Payers money held in reserves to create jobs and support the local economy in partnership with the LEP."