Icelandic Banks NPT Watchdog Comment.
May 2011
Source:
South Wales Evening Post
Where’s our money gone?
Why was all this tax payers money hanging around in this
Icelandic bank. Probably got there in the last few years from
the huge increases in council tax and ludicrous parking charges.
Neath\Port Talbot residents hard earned millions pounds could
have been better spent on building new homes, repairing our
roads, modernising our children’s playgrounds or for new youth
clubs, supporting local charities ect ect, surely any
alternative is better to what has happened.
Why did other Council finance departments see problems much
sooner withdrawing their deposits from Icelandic banks?
So what was Neath/Port Talbot finance department doing? The
Council employs trained financial advisers who obviously failed
to do some simple ‘monitoring’ or ‘financial research’ yet the
department was responsible for the tax-payers money.
At the very least Neath and Port Talbot council are guilty of
gross negligence in its control of finances flouting the
interests of Neath/Port Talbot’s council tax payers who deserve
a detailed explanation of what happened and who was responsible
for this cavalier use of public funds.