Council money

  egapup 19:24 09 Oct 2008
Locked

Is anyone else amazed at the amount of money our councils have stashed away in foriegn banks? They're always moaning for more money and cutting services, so how can they save so much??

  Pine Man 19:32 09 Oct 2008

Not really I live in West Sussex and certainly up to a few years ago they always made a big thing about being a debt free council.

In addition a lot of authorities have cash that needs to be put somewhere for short periods and, historically, isn't it better in a bank getting interest and not lying in the Chief Execs desk? Note the historical reference to interest;-)

  lofty29 19:32 09 Oct 2008

I think you will find it is not so much savings, but the money that they have in their budgets which they have a duty to make the best return on, however they have not been very wise in keeping a close eye on it, they should have got it out much sooner. In the end ratepayers and taxpayers will have to foot the bill, as always. Unless of course someone decides to send in the para's.

  ulrich 19:34 09 Oct 2008

I love the excuse that the councils have said they should spread their money out, so what happens put 17 million in one bank, or London Transport 40 million. Of course no matter what happens we the tax payer are going to suffer more. The people who have done it will not suffer due to their high wages and guaranteed pensions.

  kev d 19:38 09 Oct 2008

have got very long odds on this happening.

  interzone55 20:44 09 Oct 2008

BCCI

That's all I'm saying on this topic...

  peter99co 21:09 09 Oct 2008

Our council is up among the highest group.

  peter99co 23:08 09 Oct 2008

GB and/or AD advice followed then.

Councils say they have followed Treasury advice by investing surplus money to deliver the highest return for taxpayers.

  Al94 23:16 09 Oct 2008

I think this sums up their stupidity click here

  Quickbeam 08:50 10 Oct 2008

I used to have an old gaffer that you wouldn't dare to mention anything about any council spending as he would immediately go into a long lecture about the easy spending and thriftless attitude of the local council.

You knew when he was finished as he always ended with;
"Pah! Council money, it comes tu'pence a bucketful y'know, they jus' throw another bucketful on... then come to me for more!"

  Forum Editor 11:26 10 Oct 2008

"The people who have done it" are taxpayers too, and it's foolish to sweepingly say that they won't suffer because of their high wages and guaranteed pensions.

This thread is now locked and can not be replied to.

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