Friday 10 October 2008

New Labour No Money

The New Labour permanent state seems to have lost its second slush fund. First Northern Rock, now Icelandic banks. They aren't very good at managing finances are they?

5 comments:

Electro-Kevin said...

Send a letter to your local council asking why they allowed your money to be kept in a system which has long been known to be at risk.

hatfield girl said...

Camden didn't go to Iceland E-K. Though I dread to think of where they might be.

All this very onerous tax, that really, really impinges on the living standards of the elderly and fixed income groups has been gathered to be 'invested'. And for what ultimate purpose, rather than gathering the minimum needed to meet local needs? We should get an answer to that.

Elby the Beserk said...

http://news.bbc.co.uk/1/hi/uk_politics/7663596.stm

The level of taking the piss is beyond a joke.

Somerset CC have just announced five meetings around the county over the next three months. Organised, I think, before it was known that they had £25 million invested.

We shall be attending one, with questions about due diligence. For heavens sake, the Daily Mail warned about them in April.

We're being mugged.

hatfield girl said...

The furious reaction of the new labour regime is like their reaction to the northern rock rip off. What's lost in the Iceland banks seems to be local authority and third sector tax funded money, that's been 'invested', some deposited for quite long periods, a year and more. Why have council officials, not the elected councillors, stashed million, tens of millions, away for months and at times years, when the electorate would prefer lower council taxes? Apart from local councils are there other, regional funds, matching funds, that never go near democratic accountability, lost in these banks as well?

Elby the Beserk said...

South West RDA reported today to have spent £20 million on a site (purpose unknown) near Glastonbury. Said site has not been touched since it was bought three years ago.

Excellent use of the taxpayers' hard earned spondulicks.