Neath Port Talbot’s deposits with Icelandic banks
In view of the news that the county borough has £8m on deposit with Icelandic banks which have ceased trading, and £12m with UK subsidiaries which have been seized by the UK government, I have asked the director of finance for a statement. I have also suggested that the council put news of the financial situation on its web site.
This is a tough ask, as the situation is changing hour by hour, but council tax-payers need to be reassured. In particular, we need to know what assistance the UK government can give.
Update: the council has responded with a statement. It is clear that this is not the final word, and I and my councillor colleagues will continue to monitor the situation.
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