Funding shopping centre was huge call, says council leader
Newport council leader Debbie Wilcox has called its decision in 2013 to fund the Friars Walk shopping centre development "hugely risk-taking".
She was speaking after the centre was sold to a Canadian investment firm in July, wiping out the council's £84m debt.
The deal means the authority paying a £500,000 annual subsidy for up to 15 years, if rental incomes do not rise.
Ms Wilcox said front-line services would not be affected as funds had been set aside to cover any costs.
23 Aug 2017
- From the section Wales politics