Council want to sell assets to fill £14m budget hole

Council bosses staring down a budget hole for next year have asked for permission to use money from asset sales to fund services.

Swindon Borough Council has deemed it as the best way of filling a £14m spending gap without having to cut services or make a huge council tax increase.

The local authority has now applied to the government for what is called Extraordinary Financial Support which "might allow" it to use receipts from the sale of council property to continue providing services.

Cabinet member for finance Kevin Small emphasised there would be no forced sale of assets as "this is no fire sale to raise money".

"It might allow us to use receipts from the sale of council property to continue providing services. Normally that's not allowed," Mr Small told the Local Democracy Reporting Service.

"Otherwise, we could have borrowed the money, which we didn't want to do, or cut services to the bone, or increase council tax above 5%."

"We are not going to be selling Lydiard Park or Steam," he added.

The budget due to be presented to cabinet next week allocates £188m to the revenue budget which funds the council's day to day spending on services.

But an increase in costs of £46m means that more than £14m in savings has to be found.

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