Shopping Centre cardinal to Woking economy

February 22, 2010 — admin

Earlier today, Woking Borough Council officially announced that it had purchased Wolsey Place Shopping Centre following a decision on February 2 to become sole owners. The cost is £68million, which has been financed by the Public Works Loan Board.

The aim of the purchase is twofold – to invest in an asset that will both appreciate in time and generate a healthy £1.5m every year for the council and to play a pro-active role in encouraging economic growth in the town - in this case by securing the future of a major retail space. There are, it must be stressed, no plans for the council to run the centre, this will remain with existing staff.

There will no doubt be those that criticise the council for taking on more borrowing. They will stand on the fact that Woking has borrowed more than almost any other district council and that this somehow indicates financial imcompetence. Not so. The act of investing in tangible assets on a long-term basis and generating net profits from those investments is using borrowing as a force for good. I won’t defend all of the projects WBC has invested – and I favour a debt-free position – but in this case, one has to consider the broader interests of Woking in the future.

The nature of local government finances has changed. No longer are councils about revenue income, support grants, non-domestic rates and council tax versus costs – they have a wider, enabling role to play through investment in communities. We aren’t the only council looking to be more pro-active economically. Surrey Heath has got pro-active with The Atrium development and there are other options for the future. Runnymede redeveloped its Civic Centre and Guildford has worked to improve its Civic Hall and Friary Centre infrastructure for years.

The difference is that we have already gone into the market while the money is cheap and we are ahead of the curve – as suggested by the fact that the Liberal Democrats also backed the purchase of the centre. I’m pleased we’ve got a consensus on this and hope it survives the election intact.

Traditional local government finance will fade out as more and more cuts have to be made and councils look to other means of raising revenue. Outsourcing only gets you so far and is politically challenging – far better to invest cheaply in strategic assets that will generate multiple benefits for both residents and the council.

Posted in Community, Economy, Woking Borough Council. Tags: , , , , , , , , . No Comments »

Busted

November 18, 2009 — admin

The Woking News and Mail today reports Surrey County Council plans to launch a comprehensive review of its passenger transport budgets in common with most of  its other budgets. It simply cannot afford, it says, to keep subsidising bus companies to run routes that are not commercially viable and the level of subsidy has risen from £4million in 2001 to £11million now.

One could say that the bus companies are being greedy and not putting enough of their margins on the commercially viable routes into helping out loss-making “social” routes. But that is a moot point because rising costs and the recession have forced them to tighten their costs too and the county council is not able to negotiate from a position of strength.

Unfortunately, the only way to cut costs is to cut subsidy and that means routes having to change dramatically or go altogether. The spin on the county site is upbeat enough and talks about a fresh review and an opportunity to shape services but the reality is too stark to deny.

In Horsell, the number 73 bus that goes from Chobham to Woking via Well Lane and Horsell is listed on the review document as one that the county council would like views on but is not immediately under threat. It is then really important that as many people in Horsell as possible contact the county council to express support for this service. It would also be a good idea for as many people as possible to use it.

Should the 73 service be questioned – and there is nothing at this stage to suggest that it will be any more than any other route – one solution is alluded to by Cllr Ian Lake in his quote – that community transport could be answer. That, of course, raises the question of who is going to pay and we had just such a question tonight at the management committee of Horsell Residents’ Association.

Chris Chaney and Edward Bentall came to speak to us about the Chobham community bus that currently runs from Chobham to Woking during peak hours and the possibility that it could be extended into Horsell, which would give us a chance to shore up at least a part of the 73 route. The committee gave a resounding endorsement to the principle of extending the service and giving this option to Horsell residents in the future.

The question is where the money will come from. At the moment, the scheme is funded in part by Surrey Heath Borough Council and Woking Community Transport. But to extend the service would mean more money, which Surrey Heath is hardly likely to pay for given it is Woking residents who will benefit. And Woking Borough Council has little capacity for additional expenditure as things stand.

But I’m hopeful that we can make it work and I will certainly do everything I can to find a solution because I think that having that extra option of peak services into Woking from Horsell will give reassurance to many people in our village. The figures may suggest that few people use it but to those people that do it is often a vital part of their quality of life. And a community is defined by its treatment of the minority, not the majority.

Posted in Community, Transport, Woking Borough Council. Tags: , , , , , , . No Comments »
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