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Commenting on today's Written Ministerial Statement on Croydon's improvement arrangements Executive Mayor of Croydon, Jason Perry, said:

Fixing the council’s finances and putting Croydon back on a sustainable path has been my top priority since I was elected Mayor last year.
 
This is welcome recognition from Government that despite the deep historic challenges facing Croydon, our political and officer team are making good progress and are willing to take the difficult decisions necessary to return the Council to a sustainable footing.
 
Given the additional £224m of capitalisation directions agreed last month, and our request for an unprecedented debt write-off, it is understandable that Government wants to formalise our current improvement arrangements as a precautionary measure in light of the additional historic issues which have been uncovered.  
 
I welcome the continuing focus Government and the Improvement Panel are giving to support our goal of returning sustainable local government to Croydon and reducing the £1.6bn toxic debt level inherited from the previous Administration.

 

You can read the Ministerial Statement here: https://questions-statements.parliament.uk/written-statements/detail/20…

 

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Finance

Labour has bankrupted Croydon, hiked borrowing up to an eye watering £1.6bn at a rate of £16,000 an hour since 2014. They wasted millions buying a hotel that went bust and then sold it at a loss. They lent over £200m to their failed development company Brick by Brick with many of these loans now in default. All the while pushing up our Council tax by the maximum each year and failing to control costs. Labour are not fit to manage our money.

I run a successful family business in Croydon. I know how important it is to balance a budget, to only spend what you can afford, and how to create jobs in a difficult economic environment. That’s why as Mayor I want to bring back stability to Croydon’s finances. I will push down on overspends and ensure that our external contracts are managed effectively. I will not risk public money on dodgy property deals or speculative investments. Every penny matters and the council tax payers of Croydon have a right to expect value for money from the Council. I will deliver Council services on budget to a good standard.

Click on the picture or heading to find out more about my policies in this area.