Greybeard Posted October 9, 2008 Share Posted October 9, 2008 Councils are told by the govt. to obtain the best return they can for short-term capital deposits even if that means using foreign banks that are considered 'safe'. According to the BBC News just now the British institutional investment in Icelandic banks amounts to £860million. Gordon Brown is apparently using anti-terrorist laws to freeze Icelandic assets held in UK George Osborne wants to send a naval task-force to Iceland to demand our money back Link to comment Share on other sites More sharing options...
tuttut Posted October 9, 2008 Share Posted October 9, 2008 are yu all jealous. theyl have even more when people have to settle there rent arrears. Link to comment Share on other sites More sharing options...
Kingmaker2 Posted October 9, 2008 Share Posted October 9, 2008 So lets assume the worst and the money cannot be recovered. What happens now? Reduced services and increased council taxes? Link to comment Share on other sites More sharing options...
Greybeard Posted October 9, 2008 Share Posted October 9, 2008 So lets assume the worst and the money cannot be recovered. What happens now? Reduced services and increased council taxes? According to the list on Look L**ds, Sheffield isn't affected. Would be surprising if SCC had any spare cash to invest anywhere Link to comment Share on other sites More sharing options...
Kingmaker2 Posted October 9, 2008 Share Posted October 9, 2008 According to the list on Look L**ds, Sheffield isn't affected. Would be surprising if SCC had any spare cash to invest anywhere Good for Sheffield, but not If your council is on the list like mine. Here's the FULL list: Kent County Council - £50 million Nottingham City Council - £42 million Norfolk County Council - £32.5 million Dorset County Council - £28.1 million Hertfordshire - £28 million Somerset County Council - £25 million Northumberland County Council - £23 million Surrey County Council - £20 million Hillingdon Council - £20 million Neath Port Talbot Council - £20 million Barnet Council- £27 million Westminster Council - £17 million Brent - £15 million Caerphilly County Council - £15 million. North Ayrshire - £15 million Plymouth City Council £13 million Breckland Council - £12 million Havering Council - £12.5 million West Sussex - £12.9 million Gloucestershire County Council - £12 million Cheltenham Borough Council - £11 million Lancashire County Council - £10 million Cambridge City Council - £9 million Wakefield - £9 million West Oxfordshire District Council - £9 million Wyre Forest District Council - £9 million Cheshire County Council - £8.5 million Bassetlaw District Council - £8 million Bristol City Council - £8 million Daventry District Council - £8 million Wiltshire County Council - £8 million South Lanarkshire Council - £7.5 million Derwentside District Council - £7 million North East Lincolnshire Council - £7 million West Lindsey District Council - £7 million Cherwell District Council - £6.5 million Redcar and Cleveland Council - £6 million Lancaster City Council - £6 million Canterbury City Council - £6 million Ceredigion - £5.5 million North Lincolnshire Council - £ 5.5 million Sutton Council - £5.5 million Bromley Borough Council - £5 million Stoke-on-Trent Council - £5 million Braintree District - £5 million Buckinghamshire - £5 million Cornwall County Council - £5 million Exeter City Council - £5 million Ipswich Borough Council - £5 million Oxfordshire County Council - £5 million South Ayrshire - £5 million Wokingham Borough Council - £5 million Gateshead Council - £4.5 million Oxford City Council - £4.5 million Colchester Borough Council - £4 million East Lindsey District Council - £4 million East Staffordshire Borough Council - £4 million North Wiltshire District Council - £4 million Powys Council £4 million Rotherham Council - £3.8 million Flintshire Council - £3.7 million Aylesbury District Council - £3 million East Ayrshire - £3 million North Somerset - £3 million Doncaster Council - £3 million Rhondda Cynon Taff Council - £3 million Solihull Council - £3 million Stroud - £3 million Slough Council - £2.5 million South Oxfordshire District Council - £2.5 million Wycombe District Council - £2.5 million Cotswold District Council - £2 million Gloucester City Council - £2 million Great Yarmouth - £2 million Moray Council - £2 million Newark and Sherwood District Council - £2 million South Ham District Council - £1.25 million Monmouthshire Council - £1.2 million Dover District Council - £1 million Bridgend Council - £1 million Hertsmere Borough Council - £1 million Kirklees Council - £1 million Perth and Kinross Council - £1 million Tewkesbury Council - £1 million Vale of White Horse District Council - £1 million Winchester - £1 million Sevenoaks District Council - £1 million Tonbridge and Malling Borough Council - £1 million Lewes District Council - £1 million Bracknell Forest - TBC Burnley Council - TBC Chorley Council - TBC North Ayshire - TBC Wychavon District Council - TBC Other affected bodies Transport For London - £40 million Metropolitan Police - £30 million Dorset Police Authority - £7 million Sussex Police Authority - £6.8 million West Yorkshire Police Authority - £6 million Northumbria Police Authority - £3.5 million Hertfordshire Police Authority - £3 million Gwent Police Authority - £1 million Link to comment Share on other sites More sharing options...
newvanandman Posted October 9, 2008 Share Posted October 9, 2008 just aswell it isnt much. I smell a rat. Link to comment Share on other sites More sharing options...
cgksheff Posted October 9, 2008 Share Posted October 9, 2008 Listened to Matthew Bannister/Jeremy Vine this lunchtime. A representative of the Local Government Association was bleating on about how councils had to get the best returns, used financial advice, confirmed reliability etc. He was followed by a phone caller who said that she had fortunately pulled her money out of the Iceland bank concerned after reading an article about problems a month or so ago. If an average punter can do this, I suggest the officials/advisers are incompetant for not being aware of the same. By the way ...... I lost a tenner on the Lotto. Will you all chip in and give me my money back? Link to comment Share on other sites More sharing options...
Kingmaker2 Posted October 9, 2008 Share Posted October 9, 2008 Listened to Matthew Bannister/Jeremy Vine this lunchtime. A representative of the Local Government Association was bleating on about how councils had to get the best returns, used financial advice, confirmed reliability etc. He was followed by a phone caller who said that she had fortunately pulled her money out of the Iceland bank concerned after reading an article about problems a month or so ago. If an average punter can do this, I suggest the officials/advisers are incompetant for not being aware of the same. I watched Channel 4 news last night and Jon Snow had a Councillor whom he was interviewing in the studio. Jon Snow pointed out that Channel 4 had done their own research into the Icelandic banking system back in July, and thought it was dodgy given that the Icelandic banks were borrowing over 5 times Icleland's GDP. The Councillior (can't remember his name) merely responded by saying that the financial advice that they were given at the time was that Iceland was a sound investment. Link to comment Share on other sites More sharing options...
Berberis Posted October 9, 2008 Share Posted October 9, 2008 So lets assume the worst and the money cannot be recovered. What happens now? Reduced services and increased council taxes? Exactly, yet again the UK tax payer has to pay for (local) government cockups I heard on the news today someone from the government saying there is nothing to worry about as they will get most of the money back but then said any shortfall would be covered by the government so no problem. But who pays the bill, you, me and the rest of us chumps who work for a living! Its trousers off and bend over time people! Link to comment Share on other sites More sharing options...
melthebell Posted October 9, 2008 Share Posted October 9, 2008 so its NOT just mum thats gone to iceland then? Link to comment Share on other sites More sharing options...
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