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Lib-Dems call for Inquiry into Wokingham Borough Council's Investment in Icelandic banks

October 31, 2008 12:00 PM

At the Wokingham Borough Council's Executive meeting last night, Wokingham Liberal Democrats called for an inquiry into Wokingham Borough Council's £5 million investment in Icelandic banks.

Councillor Prue Bray (Leader of the Liberal Democrat Councillor Group and councillor for Winnersh ward) said, "There is widespread public concern about the council's handling of what most people would think of as a large sum of public money, and that's why I asked the Leader of the Council to set up an inquiry. I'm delighted to say that the Council Leader agreed that a newly formed Scrutiny Panel of both Liberal Democrat and Conservative councillors would be set up to carry out an investigation. It's important that this Panel finds out how this happened and agrees what further action the council can take to avoid losing money in the future."