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4th August 2016, 20:01

GSD distributes leaflets to mortgaged housing estates

Published by GBC News

The GSD is distributing a leaflet to the six Government housing estates which the government has mortgaged in order to borrow 300 million pounds.

The leaflet lists the 83 buildings that the GSD opposition says the government has borrowed against to “pay for an unprecedented level of spending”. According to the opposition, the GSLP-Liberals failed to tell the public they were planning to mortgage housing estates at the last election.

It says it filed many questions about this at the last session of parliament and the Chief Minister postponed answering until the day before national day when everyone will be focused on the celebrations. 

According to the GSD, it will keep pressing the Government for answers, including whether the £300 million borrowed will be used to repay existing debt or is extra money the Government has borrowed. It says that if is extra borrowing, the debt owed by the Government directly or through Government owned companies will have exceeded £1.1 billion.