Greens slam 'irresponsible' City Council plan to spend more than £50m on commercial property

Greens slam 'irresponsible' plan by Oxford City Council to spend more than £50m on risky commercial property. The Greens have proposed that the money goes to fund new renewable energy schemes instead. 

Following publication of Oxford City Council's draft budget this week [1], Oxford's Green Councillors have branded plans by the Labour-run Oxford City Council to spend more than £50m on commercial property investments [2], included in the budget proposals, as irresponsible. 

Says Green Councillor Dick Wolff, "to speculate with public money in this way is irresponsible when we have seen the commercial property market decimated by COVID and hit by the uncertainty of Brexit [3]. Instead, Oxford City Council should be investing in renewable energy schemes - this gives a more reliable financial return to the Council and will contribute to Oxford becoming a net zero carbon City."

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