Councils to get 'all their money back'

摘要

Councils that lost hundreds of millions of pounds have welcomed comments from the Icelandic Prime Minister promising that they 'will get all their money back'. More than 140 UK local authorities had a total of £1bn frozen in defunct accounts, but Sigmundur David Gunnlaugsson has now insisted they will be repaid in full. LGA chairman Sir Merrick Cockell said: 'It is encouraging that the authorities in Iceland recognise the need to ensure that councils and other priority creditors get their money back as soon as possible. 'The LGA's hard work secured its members priority creditor status. We have now got back more than £800m and will continue to work hard to get the best deal we can for councils.' Chairman-elect of the County Councils' Network, Cllr David Hodge, added: 'We welcome the statement from the Icelandic Prime Minister that local government will get our money back and we would like to congratulate the LGA and Sir Merrick for their advocacy work on this issue.'