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Local Government Finance

Volume 481: debated on Monday 27 October 2008

To ask the Chancellor of the Exchequer what estimate (a) his Department, (b) the Bank of England and (c) the Financial Services Authority has made of the number of local authorities which have deposits in Icelandic-owned banks. (226582)

[holding answer 13 October 2008]: The FSA holds information on the deposits held in banks as part of its normal regulatory duties. This information is commercially confidential.

The Local Government Association has undertaken a survey of local authorities data, which can be found at:

http://www.lga.gov.uk/lga/core/page.do?pageld=1124305

To ask the Chancellor of the Exchequer whether the guarantee given to UK savers in Icelandic-owned banks will apply to investments made by local authorities. (226583)

[holding answer 13 October 2008]: I refer the hon. Gentleman to the statement made by the Secretary of State for Communities and Local Government on 14 October 2008, Official Report, column 35WS.