Hames warns of local Tax Bombshell after Bank Collapse

12.14.13pm BST (GMT +0100) Fri 17th Oct 2008

Duncan Hames, Prospective Lib Dem MP for the new Chippenham Constituency, has called for action to protect Wiltshire taxpayers after Wiltshire County Council and North Wiltshire District Council became the latest victims of the economic crisis.

The councils had £12m in parts of an Icelandic Bank, which went into administration yesterday (Wednesday). Duncan Hames, a former Audit Committee Chairman for West Wiltshire District Council, has called on the government to do all that it can to ensure the councils do not lose this essential taxpayers' money.

Duncan Hames commented:

"If Wiltshire County Council can't get our money back, it would cost Wiltshire Council Taxpayers an average £45 per household to make good the reserves. If North Wiltshire residents were left to make up the loss of their district council's funds too, their bill would be more like £150.

"That would be devastating for local families and pensioners already facing higher fuel bills and an uncertain economy.

"These councils also have questions to answer: I think people will want to know why this money was not moved after another Icelandic bank collapsed days earlier."