PROTESTERS have urged the Isle of Wight Council to drop its £100 million property investment plan.
As reported, the council plans to borrow the cash at low interest rates and build a commercial property portfolio. It is hoped the scheme will net a profit of £5 million a year.
But five people who gathered outside County Hall yesterday said the plans were too much of a gamble.
Darren Galpin said: “The property market is risky. If they can borrow that kind of money they should spend it on the NHS.”
Councillors were meeting to discuss the corporate plan — aimed at creating 5,000 thousand jobs, building 3,000 Band D homes and increasing the average weekly wage by £107.50 within ten years — which was approved by 21 votes to ten, with four abstentions.
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