The Manchester Model. What It Actually Looks Like Up Close.
Andy Burnham is asking the country to trust him with Downing Street on the strength of what he calls the 'Manchester Model'. Eight years of integrated public services and progressive governance that he says Britain should adopt nationally. Before the country decides, it should know what that model actually produced.
Start with the money.
£578 million in public money was lent by Burnham's Greater Manchester Combined Authority to a single developer, Daren Whitaker of Renaker. A tribunal found that GMCA failed to obtain a statement of assets and liabilities from Whitaker before lending, exposing taxpayers to a risk the tribunal described as potentially wiping out the public funds. A meeting between a senior GMCA officer and Whitaker at which loan terms appear to have been agreed produced no minutes or notes. Court papers allege Renaker presented high profit figures to the GMCA when seeking loans and low profit figures to Manchester City Council when seeking exemption from affordable homes requirements. The Court of Appeal is considering judgment on whether the loans were even lawful.
Out of 11,000 homes built with that public money, 503 are classed as affordable, less than five percent. Whitaker's personal fortune grew from £140 million to £698 million during Burnham's mayoralty. The luxury towers were marketed to Chinese buy to let investors through Hong Kong estate agents. Hundreds of flats have been sold to Asian investors according to the Telegraph's analysis of Companies House filings.
Now the transparency.
