Stop playing the financial markets

Oct 24 2008

HOW many more millions have South Ayrshire Council got stashed away in overseas bank accounts hoping to make a fast buck on high interest, high risk deposits?

The recent collapse of the Icelandic bank resulting in South Ayrshire Council losing £5 million of taxpayers money proves that this gamble was a failure.

We keep getting told that there's no money for various services and that we need to cut back, eg Straiton toilets , pets corner, but the councils are able to speculate millions on an unpredictable and volatile financial market.

The council should stick to running the council and not try and be stockbrokers and lose more money.

All the money collected from the people should be spent on the people.

D Currie

Prestwick