AFTER a property buying spree earlier this year, a bid to stop Ryde Town Council snapping up even more has been dropped.

At a council meeting last night (Monday) a motion, put forward by Councillor Les Kirkby, called for the town council to stop buying properties until existing projects are finished.

The town council added to its property portfolio at the start of the year, buying St Thomas's Church and Vectis Hall, also agreeing to buy Ryde Town Hall once surveys and checks have taken place.

Cllr Kirkby argued the town council was not living within its means and warned if the council carries on borrowing money the way it has been, 'it could go bust'.

He said he is worried taxpayers could suffer and may face an even greater rise in council tax precepts.

Last year, Ryde residents were hit with an 8.9 per cent increase, adding £12.20 to a Band D homeowner's bill, making an annual payment of £149.56.

The increase added £240,000 to the town council's reserves.

Mayor of Ryde, Cllr Michael Lilley said the authority has, as part of its corporate plan, looked at income generation.

With astute borrowing at low interest, Cllr Lilley said budget talks are starting and the town council would work hard to keep the precept down, with potentially no rise at all.

Cllr Kirkby's request did not even get considered by the 14 councillors at the meeting. No-one seconded the motion, which meant it could not be debated.