Following the publication of figures showing a dramatic fall in the rental income to the council from Castle Quay Shopping Centre, Labour has labelled the district council ‘complacent’ and ‘lacking vision’ in the face of the Town Centre’s declining prosperity.
A report, presented to the Budget Planning Committee at Bodicote House showed how income from shops in the centre, currently operated by Scottish Widows, is forecast to be £380,000 less than expected this coming year.
Councillor Sean Woodcock, Labour group Leader at Cherwell District Council said, “These figures are a damning indictment of the Tories complacency and mismanagement of our town centre and comes at a time when the expected council funding deficit next year is £1.8m.
They wasted the £100,000 following the Mary Portas Review and the situation gets worse – car-parking income fell last year by £400,000. They have no vision for Banbury town centre whilst they gamble on Castle Quay 2 to bring it back to life”.
A link to the Budget Planning Committee meeting in question. The Castle Quay figures can be found under agenda item 6 (in the appendix, under Development summary/Regeneration and Housing)