On February 6 you published my letter criticising the council for speculating in commercial property and I note councillors have not responded to my request for an explanation.
Read more: Centric Parade bought by Epping Forest District Council for £23.8m
A warning from the National Audit Office (NAO) has been widely reported, criticising councils for investing in commercial property using borrowed money.
Given that the assets held by councils leave them exposed to economic downturn, the NAO wants the Government to ensure the law is fit for purpose.
Michael McGough
Wellfields, Loughton
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