Liberal Democrats are calling for a total review of the planned leisure centre for Ely, that will cost more than £15 million, because they are no longer convinced the city can afford it.
The credit crunch has taken its toll on the project and Lib Dems claim the Tories are afraid to admit that they have no idea how it will be funded.
"The project cannot move forward because the funding is not there," said Councillor Pauline Wilson. "We cannot have what we cannot afford.
"This project was based on a buoyant housing market and a booming economy. But there was no fallback position for the difficult economic climate that we now find ourselves in.
"We need to review this whole idea because it is stagnating. It is time to take a serious look at it."
Lib Dems want East Cambridgeshire District Council to scrap plans to put the leisure centre out of town and build it on the site of the present Paradise swimming pool and sports centre.
They claim this would allow people to walk to the new leisure centre and protect the viability of the city's shopping area.
"Putting the new leisure centre on the city outskirts will weaken the shopping centre which is very fragile at the moment," added Cllr Pauline Wilson.
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