The InvestLogan saga is another salient example of why governments (at all levels) should not use ratepayers or taxpayers money to “invest” in businesses.
The lack of direction and accountability for several years is bad enough, but there’s no indication on their website that they made a return or a profit on their “investments”, suggesting that they probably didn’t or if they did it was less than they might have made had they left the money in the bank.
I’m getting a little bit sick of our rates increasing substantially each year, and the only reason for it is the multitude of “initiatives” such as this.
If councilors want to invest in property development they should use their own money and take the risk themselves. Don’t do it with money forcibly taken from your constituents.
Gary Lindsay,
via email.
