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Local Government: Bank Services

Volume 481: debated on Monday 20 October 2008

To ask the Secretary of State for Communities and Local Government (1) what advice and when her Department has provided to local authorities on financial investment risk since January 2007; (228446)

(2) on what dates and by whom local authorities were provided with risk advice on investments in 2007 and 2008.

CLG's current guidance on local government investments issued under section 15 of the Local Government Act 2003 is available on the Department's website at:

http://www.local.communities.gov.uk/finance/capital/data/lginvest2.pdf.

To ask the Secretary of State for Communities and Local Government which local authorities have identified a severe short-term financial difficulty as result of the financial collapse of an Icelandic bank; and what assessment she has made of the extent of the difficulty in each case. (228448)

I refer the hon. Member to my answer given to the hon. Member for Brentwood and Ongar (Mr. Pickles) on 17 October, Official Report, column 1577W.