The project’s cost is now £215 million. £39 million must be spent by April 2025, but funding has not been secured.
A finance officer said building the road makes financial sense. He was not considering the political side. If the government stops it, they repay £39 million.
If the council stops it, their budget suffers badly. The project lacks full permission and a business plan now. Funding has not been secured yet.
One option is to build only part of the road. If the council cancels the project, costs rise anyway. The council might struggle to balance its budget. Paying back £39 million would be very difficult.
Building the road impacts the daily budget by £6 million. This is still better financially than cancelling it later. The council leader says releasing figures is not political. She remains committed to the road project.
Final project decisions must happen this year. She thinks it supports government growth plans. A new council leadership faces the same issues. Councilors should grasp the NWRR’s financial impact.
The project’s budget impacts must be clear to all. The full council will meet February 27. They will set the budget and council tax there.