FUNDS GONE TO ICELAND!

Lauren Campbell 1531 - 1531 • Published 16 Oct 2008 12:30

COUNCIL leader David O"Neill has claimed the loss of £15 million from the £400 million council budget isn"t the end of the world.

North Ayrshire Council were one of the worst-hit local authorities last week after the Icelandic banks crisis.

It was revealed that NAC had deposits in crisis-hit Landsbanki (£5m) and Glitner Bank (£10m).

However, Cllr O"Neill is urging people not to panic amid rumours in the national press of council tax increases and staff cuts.

FOR MORE SEE THIS WEEK'S HERALD

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This article appeared in Ardrossan & Saltcoats Herald 16 Oct 08

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