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West End Extra - LETTERS TO THE EDITOR
Published: 31 October 2008

Cost of the £17m loss

• CONTRARY to the complacent and incompetent response of the Conservatives to the council’s £17million loss caused by investing council tax payers’ money in now-failed Icelandic banks, this monumental financial blunder will directly hit every single resident.
In simple terms, the £17million loss means that the Conservative decision to chase higher interest rates by investing in Iceland represents a loss of £75 for every single Westminster resident.
In terms of services, the £17million that the Conservatives have poured down the drain could have paid for;
four new primary schools; 350 teachers; 500 home helps for the elderly; five new libraries; 200 new family homes; 400 new police; or any combination of the above
The Conservatives have failed Westminster residents. They have lost £17million of our money, but you can bet that we will all be picking up the bill.
CLLR PAUL DIMOLDENBERG
Leader of the Labour Group
Westminster City Council, SW1

Send your letters to: The Letters Editor, West End Extra, 40 Camden Road, London, NW1 9DR or email to letters@westendextra.co.uk. The deadline for letters is midday Wednesday. The editor regrets that anonymous letters cannot be published, although names and addresses can be withheld.
Please include a full name, postal address and telephone number.
Letters may be edited for reasons of space.

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