Friday, October 10, 2008

RIPPED OF AGAIN

Councillor Mike Eddy said £16m came from the staff pension fund, £8m was school reserves and £2m was Kent Fire Authority money that the council was administering.
The rest of the £50m was made up of council tax and government grants, he added.
Canterbury council had £6m invested, with £4m in Heritable and £2m in Glitnir.
Dover council, Tonbridge and Malling council, and Sevenoaks council each had a £1m deposit with Landsbanki. The councils said services would not suffer.
Thanet council and Dartford council said they had withdrawn deposits from Icelandic banks.
A Dartford council spokesperson said: "The vulnerability of Icelandic banks has been highlighted by our advisers for the past two years."
Deposits from more than 100 councils across England, Wales and Scotland could be at risk, the BBC has learned.

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