jeudi 9 octobre 2008

One rule for them.....

The government isn't going to bail out councils who invested in Icelandic banks, which have gone bust, since Darling says "...[councils] are a better informed kind of investor." In other words, it serves them right. A glance at the councils involved reveals a more visceral reason that lurks in the Chancellor's mind,
Kent county council £50m
Brent approx £27m
Westminster £17m
West Sussex county council £12.9m
Havering £12.5m
Sutton £5.5m
Ipswich £2m

They are all southern councils. Still, there are ordinary and poor people who live in these places, and it will be those who end up at the sharp end of the coming cutbacks. Unless someone somewhere acts.