Nicola Addyman The Politics Show BBC Yorkshire and Lincolnshire

Bradford Council - asset stripped?

What went wrong with Bradford's �1.2bn privatisation plan?

In June 2005, the Conservative-led Bradford Council was poised to rid itself of all of its assets - buildings ranging from libraries to swimming pools, to car parks, right down to a kiosk selling tea and coffee at the famous Cow and Calf rocks in Ilkley.

The idea was to lease most of these assets to a management company who would in turn charge them for running the portfolio.

The council would then sell buildings and land they didn't need - the profits from which would go to pay for frontline services.

But just as the council was about to announce the winner of the �1.2bn contract, the authority received an anonymous letter accusing a key manager of wrongdoing.

Action was swift - the chief officer on the project was suspended as was the whole of the Asset Management Project itself.

Nine months on, the audit commission has published its report into the affair.

It lists a catalogue of mistakes - including overspending on financial consultants, vital paperwork that never existed or went missing and incompetent management.

Councillor Simon Cooke

One thing the report does not do is blame the politicians who made the key decisions in the first place.

The district auditor points the finger at officers, not the council members, though the report does mention that the Conservative portfolio holder for the AMP, Councillor Simon Cooke "received regular updates on the project from officers" and "approved key decisions".

Councillor Cooke declined our invitation to comment on the report.

Councillor Ian Greenwood: Tories responsible?

However, the opposition Labour leader Councillor Ian Greenwood says the Conservative leadership must accept responsibility:

"We are paralysed by the complete incompetence and fudge at the top of the council.

"We reckon that �3m has already been spent on this. That is �33 per council taxpayer.

"That might as well have been poured down the drain."

Councillor Margaret Eaton: Money well spent

In fact, the district auditor's report says the amount spent so far is actually �2.1m. Councillor Margaret Eaton, Bradford's Conservative leader says it was money well spent: "The auditor said the �2.1m was value for money and that there is nothing wrong with the policy."

However when asked by the BBC whether that meant the AMP would still go ahead, she did not give a straight answer, simply saying: "The auditor has said the scheme needs to be re-appraised."

Whatever the rights and wrongs of this project - and the auditor certainly points to mismanagement and incompetence - the story is not yet over.

The officer who was suspended nine months ago remains suspended and is still under investigation.

The Asset Management Project itself also remains on ice, leaving 3,000 key frontline workers uncertain about their future.

No-one from the council - neither the chief executive nor the political leadership - could tell the BBC when their investigations are likely to finish and whether or not the AMP will be resurrected or killed off. Watch this space.

The Politics Show

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