Latest news with #ElliotTong
BBC News
4 days ago
- Business
- BBC News
Cambridgeshire council plays down fears over £120m housing loan
A council has played down fears over a £120m loan it lent to its house development company amid warnings the firm risks Land was set up to develop properties on Cambridgeshire County Council-owned land in 2016, but has yet to turn a auditors said there was a "high probability" This Land would "default" over the lifetime of the loan the council restructured the finances, converting about £60m into a Tong, a the Green Party councillor on the authority, said taxpayers' money was in a "failing" company, while the council's finance chief said "no council tax money has been lost". This Land has said it "acknowledges the concerns" and was focused on completing its existing Land was set up by the county council and it claimed to have facilitated close to 1,000 homes, either by directly building them or by selling has been financed by council loans, with £120m authority's auditors KPMG recently warned: "Due to the declining performance of the This Land group there is an increased risk that the entity will be unable to recover the full value of the loan." Michael Hudson, the council's executive director for finance, said it was now due to receive back £126m, having restructured finances, including converting nearly £60m into a grant which would be repaid dependent on future Tong said the council had been "given their money in order to improve the roads, improve the streets, improve their lives, but this money is instead wound up... in the hands of a company which, frankly, are failing".He accused the council of "effectively" writing off the Hudson said "like any construction and development company it takes a number of years to get moving".When asked where the money had gone so far, he said "a large element has gone into paying back the interest to the county council", and reassured residents that money would not be said the company had "provided Cambridgeshire with affordable housing" and that the "income received enabled this council not to have to make as many difficult financial decisions as other local authorities around the country".This Land's interim chief executive Rob Williams said since the auditor's report it had "worked closely with the council to complete a restructure of the company's financing to address issues raised and ensure there is a sustainable and appropriate financial approach going forward".He added: "Under the proposed plan, This Land will return to the council at least the equivalent of the original cash investment over the loan's lifetime, through a combination of loan repayments and interest payments, ensuring that council taxpayers have not lost money."The Liberal Democrats, who run the council, have been contacted for comment. Follow Cambridgeshire news on BBC Sounds, Facebook, Instagram and X.
Yahoo
03-05-2025
- Politics
- Yahoo
Green Party councillors elated to win first seats
Green Party candidates elected to a county council for the first time said they felt elated and privileged to have won in the local elections. The Greens now have three councillors on Cambridgeshire County Council. Peter Charles Rees was elected in the Newnham division, Elliot Tong in the Abbey division and Darren James Green in Romsey. Rees said he was "absolutely elated" to be voted in and hoped to "bring the voice for the climate crisis" to decisions made by the county council. Tong said he felt "very privileged" to have been elected to represent an area he loved. "There is a lot of stuff that needs changing around the city," he said. "We are seeing our infrastructure suffer greatly, we are seeing our services suffer greatly, all while taxes get higher and higher every year, which is pushing people further into poverty. "We need to make sure we are getting residents the quality of service they deserve and actually stand up for them." The Liberal Democrats won overall control of the county council, with 31 councillors elected to the authority. The party has run the county council as part of a joint administration with Labour and Independent councillors for the last four years. Lib Dem councillor Alex Beckett said: "We have been working with Labour for the last four years but it is great for us to finally be in control to be able to bring forward our proper Liberal values and make sure that we can really get things going again for all of Cambridgeshire." The Lib Dems gained eight seats, taking their number of councillors to 31, while the Conservatives lost 11 places to now have a total of 10 seats. Reform UK won a total of 10 new seats, with the Greens also winning the three new seats, while Labour halved its number to five. The number of Independents remains at two. Follow Cambridgeshire news on BBC Sounds, Facebook, Instagram and X. Liberal Democrats take control of county council Bristow elected Cambridgeshire and Peterborough mayor Live: Cambs County Council results Cambridgeshire County Council Local Democracy Reporting Service
BBC News
03-05-2025
- Politics
- BBC News
Cambridgeshire Green Party councillors elated to win first seats
Green Party candidates elected to a county council for the first time said they felt elated and privileged to have won in the local Greens now have three councillors on Cambridgeshire County Charles Rees was elected in the Newnham division, Elliot Tong in the Abbey division, and Darren James Green in said he was "absolutely elated" to be voted in and hoped to "bring the voice for the climate crisis" to decisions made by the county council. "There was not a single Green in the county council, and bringing that voice to climate solutions is our first priority," he said. Tong said he felt "very privileged" to have been elected to represent an area he loved."There is a lot of stuff that needs changing around the city," he said. "We are seeing our infrastructure suffer greatly, we are seeing our services suffer greatly, all while taxes get higher and higher every year, which is pushing people further into poverty. "We need to make sure we are getting residents the quality of service they deserve and actually stand up for them."The Liberal Democrats won overall control of the county council, with 31 councillors elected to the party has run the county council as part of a joint administration with Labour and Independent councillors for the last four Dem councillor Alex Beckett said: "We have been working with Labour for the last four years but it is great for us to finally be in control to be able to bring forward our proper Liberal values and make sure that we can really get things going again for all of Cambridgeshire."The Lib Dems gained eight seats, taking their number of councillors to 31, while the Conservatives lost 11 places to now have a total of 10 UK won a total of 10 new seats, with the Greens also winning the three new seats, while Labour halved its number to five. The number of Independents remains at two. Follow Cambridgeshire news on BBC Sounds, Facebook, Instagram and X.
