Oh, how easily people delude themselves.
Reading Coun Dave Merrett's justification for borrowing and spending (Have your say on city plans, February 14) for the Reinvigorate York project is the very reason politicians get their councils and country into such fiscal messes.
It’s funny how all politicians distance themselves by calling it investment, when in reality it is more borrowing and spending. £256,000 extra per year will come out of the revenue budget to pay for debt interest. Coun Merrett says they pay 4.5 per cent interest, so about £5.7 million extra must have been borrowed. This loan debt will eventually have to be repaid out of the revenue budget, but Coun Merrett need not worry about this because his cabinet position will have long been occupied by someone less foolish.
Geoff Robb, Hunters Close, Dunnington.
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