Local authority leaders are seeking an urgent meeting with the chancellor after it emerged at least 20 councils have cash in troubled Icelandic banks. Their overall investment is hundreds of millions of pounds and they are asking the UK government for the protection it has promised to personal savers. The Conservatives have warned that up to £1bn in council funding could potentially be in danger.
Their overall investment is hundreds of millions of pounds and they are asking the UK government for the protection it has promised to personal savers.
The Conservatives have warned that up to £1bn in council funding could potentially be in danger.
Kent County Council, £50m Transport for London, £40m Westminster City Council, £17m Hertfordshire County Council, £17m Havering Council, £12.5m
Up to £1bn comes out of the largest pot of money, £50M by Kent County Council, times 10 institutions. The Tories don't even know how to do this properly.
But £200M sounds about okay. A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
I mean times 20. A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
