City Council raises £20m in ‘commercial activities’
Nottingham City Council says it has generated £20m from commercial activities over the last year in response to a funding fall from central Government.
The Council has seen its main Government funding fall from £126m in 2013/14 to just £35m in 2018/19 – reducing to nothing in two years’ time.
The City Council says it has:
– Installedg solar panels on buildings, car parks and even at East Midlands Airport
– Sold merchandise for events at the 02 Arena, Wembley Stadium and London Palladium through the council- owned National Ice Arena
– Opened nine cafes
– Collected business waste on behalf of Derby City Council
– Grown flowers to sell to parks in Blackpool
– Increasd income from the Theatre Royal & Concert Hall
– Owned Nottingham City Transport
– Invested in property which earn rent
– Sold IT training courses to Rolls Royce and other companies.
City Council deputy leader, Councillor Graham Chapman, said: “The Government has carried out savage cuts to council funding over the last seven years, putting enormous pressure on our ability to continue to fund and provide vital local services.
“As well as carrying out £232m of savings over the last seven years, we have been ahead of the game when it comes to finding new ways to bring money into the council to balance our budgets. Our commercial operations are now providing a regular £20m a year income which offsets some of the Government cuts and allows us to continue to provide services for local people.”
