Last weeks District Council meeting was mainly about financial stuff, audits, capital programmes etc.
The most interesting point was raised by Great Wakering Tory Colin Seagers, who works in the City in the “Gherkin” building.
Colin said that the main financial worry was the District Council’s liability to the lcouncil employee pension funds. If there’s an economic downturn , and the value of equities goes down, this would have an impact on the pension funds.
He added “This could put a big squeeze on the District Council. We are looking very much into the abyss on this”