They should not be allowed near acquisitions until the current house is producing meaningful returns to local councils & taxpayers.
the dividends received by the councils over the years have been very low from an asset of this worth
Last year = £20million in dividend payout: £1 million each for 9 councils and £11 million for Manchester Council. £65.5 million profit - not too bad a return?
Why should local authorities in Manchester, rather than local authorities in Essex, be allowed to profit from running STN?
There was nothing stopping the local authorities in Essex from bidding in association with other investors. Perhaps this question needs to be asked to the various Essex councils?