Hull’s Liberal Democrat opposition group have spoken out against the Labour Council’s proposals to borrow millions of pounds.
Labour’s ruling group is proposing to borrow the most amount of money they can.
As part of their alternative budget, the Liberal Democrats have said they will reject £45million of borrowing.
It is expected that this would save the Council £2million every year from 2016.
Councillor Mike Ross, Lib Dem Deputy Group Leader, said: “The Liberal Democrats will not agree to proposals that would see the Council saddle Council Tax-payers with £45million worth of debt. We cannot agree to maxing out the Council’s credit card.
“Prior to 2010 Labour bankrupted the country and left a mess that the current government has had to clean up. Labour in Hull have not learned their lessons as they attempt to do the same thing again.
“Every Council borrows money from time to time. However, Labour's plans to max out the Council credit card are wrong.
“Since coming to power they have wasted millions of pounds on consultants, renovating offices for Peter Mandelson, HMS Illustrious and on office space they didn’t need like Pacific Exchange.
“Too much of Labour’s spending plans centres on their own vanity projects. We simply cannot allow them to borrow a further £45million to waste on such things again in the future.”