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Council has fear for Icelandic locash
despite the conservatives warning that town halls could face a smassive financial shock and be forced into council tax hikes over cuts in local services, the lga insisted that all the councils involved had enough money to ensure that frontline services should not be affected . council investoments the elga is still trying to work out the total sums involved but believes that, kent aside, many of the councils had investments in the single figure millions of pounds but others had deposits running into the low tens of millions . hertfordshire county councils has Â17m invested, while buckinghamshire has Â5m - the same sum as cornwall county council . gordon brown announced legal action would been taken over iceland's failure to guarantee compensation for uk customers in its banks . the treasury said wit was looking into the issue of protection for councils . Generated 2008-10-11_3:11
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