Friday, July 07, 2006

More Asset Stripping
The asset-stripping craze that is sweeping library authorities across the country has deprived another community of a library. Barnet Council has announced it is to sell Totteridge Library building to a property developer based in the Virgin Islands. The Council orginally intended to sell the building in return for a new library building, but as no takers were forthcoming they decided to put it on what is euphemistically described as the "open market" - which of course gives an advantage to companies registered in tax havens. "A new library will not be provided" reports the Barnet & Potters Bar Times, although the Council will net £1.5 million from this particular sale: