BEWARE the offer of community funds from wind speculators.
Middleton Burn’s £48,000 may seem a lot now and will appeal to a few people who would like to improve facilities in their neighbourhood.
But how far does it go? How will it be divided fairly, without acrimony, between all the communities affected? Who decides how it is to be spent, without being divisive?
However, the crucial point to be considered is: How much will it be worth in 25 years’ time? In 1986, petrol was, on average, 37.2p a litre, that is over 3½ times cheaper than it is now.
In the North East, you could have bought an above-average brand-new spacious house for £48,000 but it will now cost you five times that.
In 2011, it costs 2½ times more to post a first-class letter and our council-tax bill is over six times higher. As the years go by, this promised sum could be worth a mere £8,000.
Inflation has a nasty habit of devaluing fixed sums and I doubt whether the developers will index-link the community fund.
What price the environment? 30 pieces of silver?
Richard & Alison Simmance