Mps Challenged Over Payouts To Charities Following Icelandic Fiasco

摘要

Councils have angrily challenged MPs who called for charities to be compensated for losing cash in the Icelandic banks fiasco.The Commons treasury select committee's report into the losses, including almost ￡1bn by councils, argued it was 'perverse' to reward authorities which failed to protect their investment with yet more money from the taxpayer. It recommended the Government consider the case for providing charities with further statutory guidance relating to the management of a charity's finances and investments. The committee argued charities supported the most vulnerable in society and therefore needed the biggest help. It did not accept that there was a need to provide assistance to the local authorities. Advice offered by financial advisers will now be investigated by the Treasury committee. The Commons CLG committee is expected to release its findings within the next two months.