PROPOSALS by Portsmouth City Council to set up a £30m fund to buy up property have been agreed.
The city’s Tory cabinet have given council officers permission to go forward with the plan – which will help the authority generate income through buying buildings such as office space and renting them out to companies.
It comes at a time when the government is reducing the amount of money it is giving councils to spend on services.
Councillor Donna Jones, Tory council leader, said: ‘This is a really important way forward. This is Portsmouth plc.’