Companies, capital and carbon

Andy has commented in a BBC story on Wesco. Wesco is a company owned by Westminster Council that sells communications advice to Harrow, Basildon and Leicestershire councils. Andy said that “the critical thing is they have to use their profits in an appropriate way, not paying substantial bonuses. There are no simple rights and wrongs. The only test is whether it’s in the interest of the taxpayer.”

He also commented on the government’s decision to increase interest rates on loans to councils in Regen and Renewal. He said that the increase would mean more councils pooling resources with other public bodies.

Public Finance quotes figures from the LGiU that estimate the cost of the government’s decision to transform the CRC cap and trade scheme into a carbon tax at £1m a year for a unitary council and a metropolitan council £600,000 in 2012.