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Rochford District Council doesn’t have any money in Icelandic banks.

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  • Admin, that is great re Icelandic banks but can the council tell the rate payers where exactly they have deposited our money. I do not think there is any need for confidentiality here, I would have thought it would be in the audited financial reports that I assume they must produce?

  • Apparently Peter Webster was told to deposit it in Iceland ,so you will find it at the top of Rayleigh High Street between the frozen veg and Fish fingers.

  • If the national government really did advise local authorities to deposit large sums of public money with the Icelandic banks, as we have heard from parts of the media, they should be sacked as being ‘not fit for purpose’. Anyone with any financial experience would have known that the interest rates they were offering on their deposit accounts were not sustainable. How could a country that small with little financial infrastructure cope? Where were they going to earn the money to pay their depositors this amount of interest, not from the money markets? Maybe from the money our local authorities were depositing? The government and the local authorities should have done their homework on the background of Iceland before Blindly putting our money at risk. They should stop trying to find someone to blame and take it themselves. ‘The buck stops there’

  • A few days ago my husband found a list on Teletext of all councils that have money deposited with the Iceland Bank and it is frightening to say the least(Rochford DC was not one of them thank goodness). We are talking of millions of pounds per council and the list is LONG. The closest council we saw was Braintree. I agree with Mike Nobes – this government should be sacked and where may I ask is all the money coming from that is propping up the banks. We do not have any money because Gordon Brown has borrowed so much from the IMF the country will not be out of the mire for decades to come – if ever.

  • Since writing my comment above, we have discovered that, although not listed, Essex CC have a stack of money invested in Iceland Bank. Are we going to be penalised next April when the bills fall through our letter boxes????

  • Unfortunately I am not an avid Teletext reader, apart from travel reports and weather, but my husband was flicking through as he usually does to check on stock markets, news headlines and other money matters when he suddenly found this list of councils. He has tried to find it again, but obviously the pages are changed regularly and can no longer track it down. I believe he was on Channel 4 Text.
    With regard to Essex CC investment we heard it from a very reliable source it was not listed on the Teletext page.

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