The county council is planning to borrow more than £1.5 million to buy an equestrian centre to try and create more income, as well as considering extra charges for other services, following the news that the government was slashing its funding.

Just last month, Bucks County Council announced it was increasing its share of the council tax by 3.99 per cent as well as making cuts to services in a bid to make £53 million of savings after the government announced it would withdraw its grant.

Now, BCC are looking at ways to claw back some income, including purchasing Liscombe Park, an equestrian centre between Soulbury and Wing, with a borrowed £1.7 million.

The council say taxpayers will make a profit of around £32,000 a year from the centre, which has a rental income of £119,000 per year and has a “secure” tenant on site.

Extra income will also come from charges for other optional work the council carries out, which will then be used to support key services like those for vulnerable children and elderly residents.

A spokesman for the county council said “other fees and charging opportunities” are being looked at and might include “new charges for specialist advice for example, other ‘extras’ on top of statutory provision that customers may want to buy and fees from other initiatives.”

Cabinet Member Warren Whyte said it was “vital” the public understood what the council was doing in charging for extended optional services to “enhance” other key services.

He told a meeting of the cabinet: “I wouldn’t want residents to think that this council wants to charge for everything because it can. It charges for certain things because they are optional or discretionary services to support the statutory services that we must deliver.”

Leader Martin Tett, who said the council is “desperately short” of day-to-day money to employ people for services, stressed that they will not try to make a profit on the key services that the council is legally obliged to provide.

He also said the council’s purchase of the equestrian centre could be the start of a string of investments to generate income for years to come.