MK's Labour Council fails its own test on huge £160 million reserves

Labour-led MK Council has been accused of failing its own test on reserves after allowing this to increase to a whopping £160 million stash of cash, despite reducing front line services.

The under fire group have been  widely criticised for increasing reserves by over £50million since they took control of MK Council in 2014 and have failed to detail exactly where and when the money will be invested.

Local Conservative Group Leader Cllr. Alex Walker has pledged that under his council leadership, £2million would be taken out of the £160million reserves and put into reducing and preventing homelessness.

He goes on to say:

“I am baffled Labour are still bashing us for wanting to invest just £2million out of the £160million financial reserves into reducing and preventing homelessness. The situation has rapidly worsened under their watch and it is absolutely the right thing to look at what more we can do to bring down the number of homeless in MK.

“Using small amount of reserves effectively is something many Councils do and the refusal of this Labour Council shows how out of touch they are with the issues on the ground in MK such as on homelessness and the state of our roads.”

In 2016 one of Labour’s biggest national backers, Unite Union, launched a 14 point campaign to ensure Councils were being open and honest about the use of reserves.

Their campaign statement said:

“We need to hold councils to account about the level of reserves they have.

“The breakdown of reserves needs to be examined, including what is earmarked and for what. Trends in using reserves should be tracked - are they increasing or decreasing and why?

“If a council continues to build reserves, or keep reserve levels static, when there has not been a need to use them in previous years, then this should be exposed.”

Find out more about Conservatives' plan for Milton Keynes by following this link.