Investment reassurance
Warwickshire County Council is not one of at least 20 local authorities who are today reported to have lost millions of pounds following the turmoil facing Icelandic banks.
Oliver Winters, Warwickshire County Council’s Head of Finance, said: "I heard, as many did today, the news that at least 20 local authorities have investments in the troubled Icelandic Investment banks. Warwickshire County Council is not one of these authorities.
"It is becoming increasingly difficult to find a safe haven for our investments. However, we continue to monitor the events in the investment world and are taking a very cautious approach to our investments. Our overriding objective is to protect the principal sums invested even if this means we may not be achieving the maximum return offered by some investment institutions."