Crock of Gold under the Midland Hotel

7.44.39pm UTC (GMT +0000) Tue 16th Nov 2004

Liberal Democrat Councillor Simon Wheale has uncovered over £700,000 of unspent money raised this year from the sale of the freehold of the Midland Hotel (£523,000), and an extra dividend from the company that manages GMex, Modesole (£191,000.) According to Council officers, none of the money is currently earmarked.

Opposition Finance spokesperson Marc Ramsbottom will propose that £20,000 per ward be spent on the popular "CAS:H Grant" scheme, on top of the £40,000 per ward spent earlier in the year. Many wards had many more bids than they had grants.

Cllr Ramsbottom said today, "I am grateful that Simon's hard work has uncovered this extra money. Given the popularity of CAS:H Grants, the Lib Dems are proposing that this money is spent in the current financial year in order to help local people share in the success of the growth of the City Centre."

For more details, contact Marc on 07976 352 513 or Simon on 07788 594 135