Currently the Local Government Association are fighting to keep the Priority Claim status for councils across the country, which is why this case in Iceland is so important to the residents and the taxpayers of the district. Failure to secure such status could lead to less of the public's money being returned. A separate amount, similarly lost, is still held in Glitnir, with a court case expected in mid-March.
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| Leader of West Lindsey District Council Cllr. Burt Keimach. |
"We have clawed back £1,010,000 already and expect another tranche later this year in June. I think we can realistically expect that we will recover 90% of the money."On a previous occasion he noted:
"We are not envisaging cuts in services or anyone being made redundant. We don't have a problem. We have good revenue, a good revenue budget, plus some money coming in from Heritable Bank in Iceland. We are optimistic and we are in a very good position.
"We have been prudent and we have been careful how we spent our money while improving services.The Conservatives, having taken control of the authority from the Liberal Democrats in the Local Elections of May 2008, have been delivering on a package of £1.4m of efficiency savings at the authority; whilst still delivering for local communities. Last year this included £165,000 for flood prevention, £50,000 to help with problem young people, £57,000 for the Citizen Advice Bureau and the restoration of the Councillor Initiative Fund.
"We have been lucky in getting growth point status for Gainsborough. We are not spending revenue cash and we have a healthy capital budget."
