Councils should set up their own banks, according to Kent CC and think-tank the New Local Government Network. The move would be a 'logical step forward' for local government, the two have claimed - just one week after Essex CC mooted the idea of a 'Bank of Essex' (The MJ, 27 November). Kent CC chief executive, Peter Gilroy, said the move would 'sit well alongside' the work councils were doing to support their communities during the downturn, and would safeguard taxpayers' money during the recession. NLGN director, Chris Leslie, explained that just some of local government's reserves could be invested in a 'council's bank', releasing millions in capital.
展开▼
