Public money invested in Iceland looks likely to melt away


At least 20 local councils have millions invested in troubled Icelandic banks, it has emerged today, begging the question, why didn’t they invest in British companies and banks instead of going offshore? The Tories are already talking about council tax hikes and cuts in public services—which is fine by them, I guess, as public service cuts are what that party has stood for since 1979, whether it will admit the fact or not. Its record in government speaks for itself, and the Tories were the ones who introduced the grossly unfair council tax in the first place after their disastrous social experiment otherwise known as the Poll Tax.

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Thursday, October 9th, 2008

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