Telford & Wrekin Council wants to borrow £45.7m from the Public Works Loans Board to set up a company to build new houses and commercial properties in the borough.
The council want to build 50 houses on the site of the old Madeley Court School and 101 houses at the site of the old Woodland Primary School in Woodside. They also want to build another supermarket by Aldi and KFC using the money.
The council has already borrowed heavily from the Public Works Loans Board for the solar farm at Wheat Leasowes, to bail out the Ironbridge Gorge Museums Trust and for a number of other projects and they plan to borrow another £200m to invest in MOD Donnington. We don't know how much debt Telford & Wrekin Council have got us into for these business ventures but we believe it to be more than a quarter of a billion.