You know we could go on discussing this unsavory episode all day. What it illustrates that when there was £160 Million up for grabs & all the greedy Local Authorities
saw no further than what share they were getting out of the 'pie' as a windfall to balance their own budgets, they over looked the bigger picture as to where the remainder was going and the actual effect on NCL's finances going forward. Clearly Mr P is shown to be a 'prima facie' beneficiary of these payouts & that it is this issue which has caused his subsequent fall from grace. It is now up to the courts to decide as to what now transpires. As for NCL's position in all of this, there is 'no free lunch' and the £160 Million, did not materialise out of thin air, but has been borrowed and has to be
paid back along with considerable other borrowings that were in effect the 'new finance package'. What this means to NCL is that instead of having funds available for much needed improvements to the infrastructure, these funds are being diverted to service and repay the debt that has now been taken on board.
