Westminster City Council has, or had, £17m in Icelandic banks: £7m in Landsbanki and £10m in its UK subsidiary, Heritable. Nearly £10m of these deposits were placed in August. According to Councillor Colin Barrow CBE, Leader of the ruling Tory group on the Council, in August "both banks had excellent credit ratings of the highest standard". But on 30th January 2008 David Ibison, writing in the Financial Times about Landsbanki and two other major Icelandic banks, stated there was "increased uncertainty over the banks arising from their perceived reliance on wholesale funding, cross-ownership issues, an alleged lack of transparency, and macro-economic imbalances." How come this increased uncertainty had not come to the attention of Cllr Barrow? I am surprised, especially as according to his biography on the Westminster Conservatives' website (not yet updated to reflect his promotion to Leader), he "handles the Council's finances, as Deputy Leader of the Council. He has his own investment management business in Westminster".
Did Nick Clegg endorse school vouchers or didn't he? Well, the evidence that he did is rather strong. Not only Rachel Sylvester in the Telegraph on 29 October but also self-confessed Clegg fan Jasper Gerard, writing up an “exclusive interview” in the Observer on 21 October, state that he did. Gerard writes, quoting Clegg: "'I want a sense of empowerment on a daily basis for people accessing health care and good education.' Well that's clear. But he differs from free marketeer Tories in that 'having lived in Europe and had children born in hospitals in Europe, they have a far greater sense of equity in health and education. It is not like a supermarket but the patient, pupil or parent has entitlements which the provider of services has to meet.' So according to his 'pupil premium', parents would be given a voucher to spend in their preferred school; but while a flaw in such schemes is often that the savvy middle class pack the best schools, Clegg ...
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