Commenting on the potential loss of Haringey Council savings in a bankrupt Icelandic bank, Councillor Robert Gorrie, Haringey Liberal Democrat leader said:

“Local residents need to know exactly how much of their Council Tax money is in jeopardy and what the potential effect this will have on the Borough’s finances.

“We need urgent reassurances that frontline services will not be affected and that Haringey Council’s other deposits are safe.

“Once the dust has settled and our funds secure, there will be urgent question of how the council got into this mess.”

Lynne Featherstone MP added:

“I am absolutely determined that the Haringey taxpayers will not be left to pick the tab for these losses.I have already made urgent representations to the Chancellor to demand the Government guarantee is extended to councils’ deposits.”