The Leader of the Conservative Opposition Group at Somerset Council has criticised the Liberal Democrat administration after it refused to publish a detailed breakdown of the apparent multi-million pound losses on the Coal Orchard regeneration scheme in Taunton, despite acknowledging the information could be produced.
At Somerset Council's Executive meeting on 5 August, Conservative Group Leader Cllr Diogo Rodrigues asked the administration to publish a schedule setting out each Coal Orchard Development disposal, including the assets sold, disposal dates, costs, net book values, sale prices and the resulting profit or loss on every transaction.
The request followed the publication of differing financial figures relating to the £16 million development, which have led to uncertainty over the true financial outcome of the scheme.
Responding on behalf of the administration, Executive Lead Member Cllr Mike Rigby did not say that the information was unavailable or could not be compiled. Instead, he said officers had "more pressing issues" to focus on.
Cllr Rodrigues said:
"In 2022 residents were promised by the Liberal Democrats that the Coal Orchard development would generate a tidy profit for taxpayers. Instead, different figures have since been presented which paint very different pictures of the scheme's financial performance. Whichever figures are used, they point to losses running into the millions rather than the return that was promised.
"The public deserves to know exactly what was sold, what it cost, how much was received for each disposal and what profit or loss resulted. The administration has accepted that this information could be produced, but has simply chosen not to publish it.
"At a time when Somerset Council is operating under a Government Best Value Notice and has received a one-star CIPFA assessment describing its financial management as weak, residents would reasonably expect greater transparency, not less.
"Taxpayers funded this development. They were promised a profit. Instead, they have been left with losses, conflicting figures and a refusal to provide the detailed information that would allow the public to understand what actually happened.
"It is little wonder the Government has lost patience with Somerset Council when accountability for millions of pounds of public money is regarded as less important than 'more pressing issues'."
The Conservatives say publishing a disposal-by-disposal schedule would provide clarity for councillors, residents and taxpayers by reconciling the different financial figures that have been presented in relation to the scheme and demonstrating the true financial outcome of the project.
