He was born in Northern Ireland and attended Trinity College in Dublin, where he first became interested in socialism. He joined the Irish Labour Party and was involved in the country's civil rights movement.
He believed in working closely with neighbouring local authorities and partners for the benefit of the local area. His accomplishments included orchestrating the new Preston Market Hall.
Councillor Matthew Brown, leader at Preston City Council, said: “Peter was a great champion for Preston and will be missed by councillors from all parties, as well as many council employees. What he achieved for the city is evident – just look at the development of the new Market Hall and the recently signed Faith Covenant.
Councillor Neil Cartwright, Preston Conservative Party Leader, said: “I am devastated by this news. I have known Peter Rankin for a great many years and although we had our political differences, I have always held him in the highest regard.
Councillor Pauline Brown, Preston Liberal Democrats Party Leader, added: "Peter was always a wonderful advocate for Preston. He worked tirelessly for Preston and really believed in his adopted City. The Market Quarter was one of the achievements he was most proud of , and rightly so. He had a marvellous vision for Preston and used to get frustrated if matters beyond his control held him back.
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