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Surrey Heath Liberal Democrats - working for you, for a better futureWorking for Surrey Heath, Ash, Ash Vale & Tongham |
Surrey Heath Liberal Democrats - working for you, for a better future <info@surreyheathlibdems.org.uk>
Surrey Heath Borough Council's Icelandic Assets FROZEN
January 11, 2009 12:00 AM
How short sighted can the Conservatives get? They may have lost £4 million of your cash!
Like many other Councils, Surrey Heath had put some funds in Icelandic banks. But unlike the others, the sum deposited was equal to a quarter of its yearly income!
This is a much bigger percentage than most of the other councils. Some councils for example, Conservative controlled East Northants District Council considered Icelandic banks too risky and re-invested elsewhere.
Liberal Democrat Council Group Leader, David Whitcroft, said "Prudence is a virtue - pity Surrey Heath Conservatives don't seem to have it like some of their colleagues elsewhere!".
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