LOCALNEWS 24-MOVIES
NEWS•MOVIES•THEATRE•MOTORING•LIFESTYLE
A council has loaned
£2million to another local
authority but got an interest
rate of only 0.
27per cent.
The decision was made by Erewash Borough
Council because the interest figure was...
More
LOCALNEWS 24-MOVIES
NEWS•MOVIES•THEATRE•MOTORING•LIFESTYLE
A council has loaned
£2million to another local
authority but got an interest
rate of only 0.
27per cent.
The decision was made by Erewash Borough
Council because the interest figure was
fractionally higher than the amount on offer from
the government.
Erewash council leader cllr Chris Corbett said the
three-month loan had now been repaid by
Eastleigh Borough Council without a problem.
“Safety is our priority,” he told the council’s
executive which heard that the Tory-led authority
had £16.
9million invested at the end of
September.
The best interest rate was 0.
71per cent from the
Coventry Building Society, which borrowed
£1million.
The same society also borrowed
another £1million at an interest rate of 0.
70per
cent.
Ian Sankey, director of resources, told councillors
that Erewash remains free from debt and worked
hard to get a good and secure income from
investments.
But the warned the executive: “It is very difficult
Less
