Political View: The choices of politics
Politics is about choices. It’s about which levers you pull and push. A national example would be what the new Prime Minister is doing. Whilst still the same party, PM Burnham is already pulling different levers to the Prime Minister before, and this is politics-it’s the choices you make. We see this locally too with the sale of the Hilton Hotel. Everyone in the city will have a view on the decision to sell the site for a crushing loss. This was a political choice and, in our view, the wrong one for the city’s finances.
The original decision was made in 2017 when the economy and finances were very different to 2026. Nobody could have predicted Covid or the seismic impact it had on the construction sector. The idea of a kick-starter for the South bank, at the time a site with a derelict DIY and clothing store and scrubland, transform into a bustling riverside development. If you visit this area today, it is happening. Development is ongoing, and the vision is becoming reality. The idea that a loan would generate some £2 million for the council to invest back into the city, sadly this wasn’t to be with the insolvency, but the key is what happened next.
When the decision was made to sell the hotel, the Conservative group ‘called-in’ this decision and challenged it. We argued that we should find a developer to finish the building and find a partner to operate the hotel on our behalf, would be the best financial outcome for the council in the circumstances. A partnership would have meant the council put in no further money, and that in a period of 25-30 years approximately, the council could recoup all of its money. This idea was rejected by the Labour administration, but it is the outcome-the winning bidder is a developer, and they have secured a partner to run the hotel. The only difference being, this isn’t on behalf of the council, it’s for themselves as private enterprise. Since 2017, there has been a case of hindsight, and what might have been, but the biggest what might have been question will always come from the decision to sell now at a loss. Again, political levers, political choices, and we argue that the wrong lever has been pulled at the wrong time.
Following the sale, it is the first time perhaps where all politicians talk positively about the benefits an open Hilton will bring. Least we can all agree on something! As the south bank development continues, and a bridge to somewhere with the Embankment bridge in development, you will start to see the vision that ignited the original decision in the first place. And the employment, the leisure offer and rates income that the Hilton will bring to the city will be realised too. We wish the new developer every success, we just wish it was direct partnership arrangement, but the decision made is the decision made. We would have done this differently!
I don’t have any new Conservative councillors to announce to you this week, but we are seeking candidates for the May elections next year. If you care about where you live and have a passion for the direction of Peterborough, we would love to hear from you and tell you what’s involved in being a councillor. And I must finish with a shoutout to our amazing fire services. What we are seeing in Holme fen is scary and I hope we don’t see any more incidents in the peak of this heat. Stay safe and as cool as you can.