| A council leadership contender has vowed to create a regional sovereign wealth fund to invest in Birmingham businesses, housing and infrastructure. Coun John Clancy, who is front-runner in the battle to succeed Sir Albert Bore as leader, wants to "sweat" the council's £5-£6 billion land and property assets to build and support jobs, economic growth and housing in the region.
In his detailed manifesto, he says: "This would use our physical asset base to generate capital spend in building housing and investing in business, jobs and infrastructure across all wards of the city, to generate economic growth city-wide. "We must use it to ensure thousands of affordable homes are built each year over the next decade in this city...............................................Full Article: Source |