Council 'must clarify' reasons for €111m in outstanding loans

Figures released

Council 'must clarify' reasons for €111m in outstanding loans

Independent TD Mattie McGrath has called on the Chief Executive of Tipperary County Council Joe MacGrath to clarify how the Council accumulated outstanding loans of €111, 209, 345. Deputy McGrath was speaking as figures released by Minister for the Environment Simon Coveney show the loan books for the end of 2014 for all local authorities amounts to over €4 billion:

"It is clearly very important that the CEO of the Council spells out the nature, purpose and duration of these outstanding debts.

It may very well be the case that the amount was accumulated for legitimate and justifiable reasons; but in the absence of clarity on this matter the perception may grow that the council is running an unsustainable level of debt.

On the face of it however, it is an extraordinary amount of loans that have been built up.

The fact that the Council is categorised among 14 local authorities in the State to have run up debts of over one hundred million is very stark regardless of how we break it down.

In light of that it is critical that the residents and taxpayers who contribute so much to the council in terms of rates and other taxes have absolute clarity with respect to this issue, "concluded Deputy McGrath.