Targeting support to make things fairer
Borrowing money
The 兔子先生 borrows money very carefully and follows strict rules. We only borrow for big projects, not for everyday services.
In the past, we borrowed money at low, fixed interest rates to invest in long-term projects. These investments were made to create valuable assets, like buildings and infrastructure, that will benefit future generations.
South Tyneside has over 拢1.3 billion in assets and the second highest net asset value per person in Tyne and Wear.
Our Medium-Term Financial Plan makes sure that any borrowing is sensible, affordable, and sustainable.
Often, these investments generate income that helps cover the borrowing costs. For example, our leisure memberships have grown due to investments in our leisure facilities.
With higher interest rates now, we are borrowing less and using more external funding for big projects.
South Tyneside has successfully secured millions from the government for town centre investments, showing our growth potential.