Kensington and Chelsea in the credit crisis

Statement 10 October 2008

No Royal Borough money is amongst the £840 million of local authority cash said to be deposited with Icelandic banks, the Council revealed.

"Fortunately this Council has never held any Icelandic investments,"' said Council Leader, Councillor Merrick Cockell.

"After many years of careful investment," he added, "I believe the Royal Borough is well placed to weather this financial storm and protect its vital services."

 

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