Sunday, 3 January 2010

Iceland deals another blow to Kent County Council

Having spent a few days updating the Kent Green Party website, I found myself adding a page on ethical investments, an issue that we have worked hard to get Kent County Council to adopt. We had some success last year after we embarrased them in the media with a number of well chosen pieces about the type of companies the council had its money in, arms, tobacco etc.

The big story with Kent County Council and money is of course the fiasco of losing £47m to the Icelandic banking collapse. News out yesterday shows that Icelanders are fighting hard to not repay their debts with 25% of voters signing a petition to their parliament - I'm sure we would all do the same in their shoes. This is another blow for KCC and for Kent in general. Either taxpayers will have to stump up the misssing millions or KCC will have to cut services.

Kent County Council have acted like a greed hungry corporation, investing money for the greatest profit above all else. As the banking house of cards tumbled, it got its fingers burnt, but the real scandal should be that it continues to use public money to fund death, oppression and climate change.

The council is in the ideal position to put its money into projects that would benefit people and the environment. Acting in the public interest, rather than as a greedy corporation is long overdue but unlikely. Remember, 74 of the 84 Kent County Councillors are Conservative.

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