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I could not agree less. Public funds should of course be used to generate economic activity that benefits people. Why do we subsidise rail travel? Why do we subsidise the arts? Why do we provide librairies? Why do we have public leisure centres? Why do we build roads? I could go on but it is...

I don't know the financing arrangements but I suspect most of it is loan finance at low interest rates. That makes it possible for a decent return to whatever small amount of equity is involved. It's obviously high risk but the Council can quite reasonably take a different view of risk to an...