| Meanwhile in Swansea, the leader of the council said plans to regenerate the city would remain ambitious despite a £36m underspend on projects last year.
The council expected to plough through £157m on capital schemes in 2022-23, such as the new office building at the former Oceana nightclub site on The Kingsway and the overhaul of the Palace Theatre, High Street. The capital programme also includes school and council housing upgrades.
The actual expenditure was £121m, due to various challenges such as the complexity of some of the projects and procurement delays. Unspent capital money is carried over into the current financial year.
Labour leader, Robert Stewart, told a cabinet meeting that there had been some project "slippage", but that the programme was still one of the largest in Wales, adding: "I think it's absolutely right that we continue with that ambition, even if we undershoot a little bit in what we deliver." Read more on that story here.
Thanks for reading this week's letter - we'll have more property news next Thursday.
Coreena Ford Business writer |
