I’ve had a couple of e-mails over the past couple of days from residents who are concerned about media reports regarding the huge financial losses some local councils have incurred as a result of the Icelandic banking crisis.
Runnymede’s Director of Finance Stuart Cawthorne has e-mailed councillors to confirm that Runnymede Borough Council has no deposits in Icelandic banks and is, as such, not affected by this crisis.
The same, however, cannot be said for all councils. Some councils are expecting huge losses:
Kent County Council – £50 million
Nottingham City Council – £42 million
Norfolk County Council – £32.5 million
Dorset County Council – £28.1 million
Hertfordshire – £28 million
Barnet Council- £27 million
Somerset County Council – £25 million
Northumberland County Council – £23 million
Surrey County Council – £20 million
Hillingdon Council – £20 million
Neath Port Talbot Council – £20 million
Westminster Council – £17 million
Brent – £15 million
Posted by cllrdanielhamilton 
