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County banking scheme axed
THE Banking on Essex scheme will close by the end of the financial year.
After handing out about one per cent - £500,000 - of the £50m available since the scheme began Essex County Council has decided to end it.
Opposition councillors described it as “a flop” which cost as much to set up as it handed out but the Tory led council refused to condemn the scheme as a waste of time and money.
Instead senior Tories emphasised the council’s desire to help businesses, especially during a period when some banks were not, and pointed to the dozens of associated schemes which helped.
See the full story in tomorrow’s paper.