THE first of two inquiries ordered into Plymouth City Council’s controversial £72 million shares and pension deal has begun this week.
A “financial stability review” began on Monday, with the council’s leader, Cllr Tudor Evans, among those expected to have to answer questions.
Independent officers from the Chartered Institute of Public Finance and Accounting (Cipfa) are in the city for the start of the eightweek inquiry. It is likely to see cabinet member for finance Mark Lowry, chair of the audit and governance committee Sarah Allen, Tory opposition leader Andy Lugger and senior council officers being interviewed. The review will look at the council’s budget and financial forecasts, but will not probe the 2019 shares and pension transaction.
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