Sale of museums and theatres in Swindon suggested as an option for council to save money
No final decisions have been made, but it follows doubts over a forty five million pound entertainment venue also planned for the town
The sale of museums and theatres has been suggested as an option for Swindon council to save money.
The issue was raised at a meeting of Swindon Borough Council’s Finance Overview and Scrutiny Committee on Monday, September 29.
SBC is currently relying on Exceptional Financial Support (EFS) from central government, which allows councils in difficulty to fund expenditure either through borrowing or through the sale of assets.
The committee discussed recommendations that were made by the Chartered Institute of Public Finance and Accountancy (CIPFA), when they carried out their Resilience Review, which was published in full with the February Budget Report.
One of the recommendations made by CIPFA, to minimise reliance on EFS, was to consider the sale/other disposal of museums and theatre.
This links to CIPFA’s other recommendation for the council to review and consider stopping ‘discretionary activity’, again to reduce the reliance on EFS.
No decisions have been made yet.
CIPFA also recommended that the council prioritise projects with revenue benefits.
This follows uncertainty around plans for a £45 million entertainment complex at the site of the former bus station in Swindon town centre.
In March, prior to the election and the Conservative administration taking over the council, the council said that the theatre could be completed as early as 2029.
£20 million was provided by the UK Government, as part of its Growth Mission Fund, to help fund it.
But there has been some doubt now as to whether the proposals will go ahead.
The Leader of Swindon Borough Council, Councillor Gary Sumner said that the council are making a business case for the entertainment venue, looking at factors such as interest in the building, what rent any potential operator might pay, and whether the size is appropriate.
“But, ultimately, the government are offering us £20 million as a grant – we’ve still got to find £20 or £25 million to complete the project,” Cllr Sumner said.
“I still have to look residents in the faces, and say, we are cutting these services, but we are able to write a check for a new entertainment venue.
“This is serious business. This is a council on the edge and if we need Exceptional Financial Support again, MHCGL (Ministry of Housing, Communities and Local Government) will be wanting to look at us and say are you making all the right savings, and why are you writing out a big check for something that you can’t afford?”
He said CIPFA agreed with this assessment in his meeting with them.
He said he “sincerely” hopes the project won’t have to be scrapped, but that fixing the finances was incredibly important.