Authority looks at investing in shops to boost coffers

Report finds average Portsmouth worker needs 103 per cent pay rise to afford a mortgage

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PORTSMOUTH City Council is looking at investing in shops as a way of balancing the books, the authority’s leader has revealed.

Councillor Donna Jones said the council was keen to diversify and look at new investment options that could boost its coffers.

The comment came as she defended the council’s move to spend millions of pounds on a warehouse in Gloucestershire.

She said this decision was a ‘safe and secure investment with a long-term tenant’ that would give the council an income.

She added: ‘We are looking at all different options including supermarkets and other things.’