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FRED DONE WEALTH RISES £20MILLION AS HE GETS £22MILLION PUBLIC SUBSIDY
 

Star date: 14th May 2018

SUNDAY TIMES RICH LIST SHOWS HUGE DONE BROS WEALTH RISE

The new Sunday Times Rich List shows that Fred and Peter Done's wealth rose by £20million, to £1.35billion. Coincidentally, the Done's company FICM Ltd got £22.5million in public subsidy loans from Greater Manchester Combined Authority for the controversial blocks of 380 unaffordable apartments at Blackfriars, subsequently marketed to Hong Kong investors.

Others on the Rich List include INEOS fracking chief, Jim Ratcliffe (top of the List), and the Peel Holdings Whittaker family which saw its wealth rise by £50million – did they ever pay for that Barton bridge?

Full details here...


Salford May Day march goes past Fred Done apartments
click image to enlarge

The new Sunday Times Rich List, as ever, shows wealth being sucked from the many to the few. There's now 145 billionaires in the UK, up 11 on the previous record set last year.

While not ripping up any headlines in the List, Salford chancers Fred and Peter Done saw their wealth climb by £20million, to £1.35billion, compared to £1.33billion last year. The BetFred bros are now the 102nd richest people in the country. The Times also discloses that the Dones donated £250,000 to the Tories last year.

As the Dones' wealth rose by £20million, their company FICM Ltd was receiving public subsidies of £22.5million from the Greater Manchester Combined Authority's Housing Investment Loan for its blocks of 380 unaffordable apartments on the site of the Black Friar pub (see here)

This was on top of Salford City Council waiving £1.28million in planning fees for the development, plus the need to provide 76 affordable properties, because the scheme would not be economically 'viable' – ie the profits wouldn't be big enough - if they had to cough up. Subsequently, the 'Blackfriars' flats were marketed to rich Hong Kong investors (see here).

Top of the Sunday Times Rich List is Manc Jim Ratcliffe, chief of fracking firm INEOS, who saw his wealth rise by £15.3billion, to £21.05billion. Meanwhile, Peel Holdings owners, John Whittaker and family saw their wealth rise by a 'mere' £50million, to £2.25billion.

Late last year, Peel Holdings was bickering with Salford Council over the cost of maintenance on the new lifting bridge in Barton. As yet, no-one knows who actually ended up paying for it.



Main photo shows Salford Labour Party and councillors parading past the Blackfriars development as part of the May Day march.

Mary ferrer wrote
at 08:49:54 on 15 May 2018
Not much we can say about this.I bet Done & Done think Salford council and others are like fairy godmothers.Grants why?? It won't be viable if they build affordable housing and God forbid the council should take planning fees.This city looks foolish.Take from the poor and give to the RICH.
 
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