Mayor of Tower Hamlets takes inspiration from Barack Obama for budget plans

PUBLISHED: 16:17 28 February 2013 | UPDATED: 16:17 28 February 2013

Tower Hamlets Council should take its lead from US President Barack Obama and spend its way out of the recession, according to its Mayor Lutfur Rahman.

Speaking at last night’s council budget meeting, Mayor Rahman said the borough’s cash reserves could be used to stimulate the local economy.

“There has been a failure of imagination on the part of the major political parties”, he said.

Naming President Obama, Mayor Rahman spoke of the “alternative approach” of using council reserves to stimulate the economy.

“We are in a good position to try that alternative approach as a local authority”, he added.

But Labour group councillors repeated warnings that the Mayor’s spending risks a £55million “black hole” in the council’s finances by 2016.

Councillors could not agree on a budget, with two proposals set to be voted on at an emergency meeting to be held next Thursday.

If you value what this story gives you, please consider supporting the East London Advertiser. Click the link in the orange box above for details.

Related articles

Become a supporter

This newspaper has been a central part of community life for many years. Our industry faces testing times, which is why we're asking for your support. Every contribution will help us continue to produce local journalism that makes a measurable difference to our community.

Latest from the East London Advertiser