Shouldn't have gone to Iceland

[DimPrawn]

http://news.bbc.co.uk/1/hi/uk_politics/7946287.stm

Councils with millions trapped in failed Icelandic banks might have to write off 90% of their investments, a financial consultant has said.

Mark Horsfield, of Arlingclose which advises more than 50 councils, said market forecasts showed they might receive only 0.5p in the pound.

One hundred and twenty-three councils have millions of pounds frozen in accounts in Iceland.

And even spending watchdog the Audit Commission has cash trapped there.



Heads should be rolling. There's plenty of good people looking for jobs. Swing the axe!

[Churchill]

http://news.bbc.co.uk/1/hi/uk_politics/7946287.stm

Councils with millions trapped in failed Icelandic banks might have to write off 90% of their investments, a financial consultant has said.

Mark Horsfield, of Arlingclose which advises more than 50 councils, said market forecasts showed they might receive only 0.5p in the pound.

One hundred and twenty-three councils have millions of pounds frozen in accounts in Iceland.

And even spending watchdog the Audit Commission has cash trapped there.



Heads should be rolling. There's plenty of good people looking for jobs. Swing the axe!

You couldn't make this up!

Ah well, council tax is about to go up - again!

[BrilloPad]

You couldn't make this up!

Ah well, council tax is about to go up - again!

In Greenwich ours is actually static! But then I think we pay the 3rd highest council tax in the UK. In that respect I wish I still lived in Wandsworth.....

[Pondlife]

http://news.bbc.co.uk/1/hi/uk_politics/7946287.stm

Councils with millions trapped in failed Icelandic banks might have to write off 90% of their investments, a financial consultant has said.

Mark Horsfield, of Arlingclose which advises more than 50 councils, said market forecasts showed they might receive only 0.5p in the pound.

One hundred and twenty-three councils have millions of pounds frozen in accounts in Iceland.

And even spending watchdog the Audit Commission has cash trapped there.



Heads should be rolling. There's plenty of good people looking for jobs. Swing the axe!

hmmm... I wonder whom I would be sacking first.

[Svalbaard]

To be honest it does beggar belief that your council has been playing Russian roulette with your taxes. Surely councils should be only taking in the money they need to provide the services plus maybe a %'age surplus for contingency.

I am not sure of what individual figures we are talking about here but if they have major surplus enough to invest on foreign shores then we are all being charged too much.

[EternalOptimist]

To be honest it does beggar belief that your council has been playing Russian roulette with your taxes. Surely councils should be only taking in the money they need to provide the services plus maybe a %'age surplus for contingency.

I am not sure of what individual figures we are talking about here but if they have major surplus enough to invest on foreign shores then we are all being charged too much.

You clearly do not understand cash flow. Are you really a contractor ?

[Churchill]

To be honest it does beggar belief that your council has been playing Russian roulette with your taxes. Surely councils should be only taking in the money they need to provide the services plus maybe a %'age surplus for contingency.

I am not sure of what individual figures we are talking about here but if they have major surplus enough to invest on foreign shores then we are all being charged too much.

"Local Government Pensions" <-------------- Scrap the f**king lot of 'em!

[Svalbaard]

You clearly do not understand cash flow. Are you really a contractor ?

Lol!! I understand it very well thankyou. But my point was not one of the way that finance is managed, but of a more moral point that I don't feel that your council should be shifting your money offshore at all.

You have my sympathies that you have trouble accepting the opinions of others.

[sasguru]

In that respect I wish I still lived in Wandsworth.....

[oracleslave]

whs