Labour run Liverpool City Region Combined Authority has £166,120,000 invested in banks despite Labour councillor comparing bankers to “train robbers”
Liverpool City Region Combined Authority Investment List
|Borrower||Principal (£)||Interest Rate||Start Date||Maturity Date||Lowest Long
|National Westminster Bank||4,050,000||0.50%||Call||BBB+||0.001%|
|Bank of Scotland PLC||10,935,000||0.60%||Call||A||0.000%|
|Barclays Bank PLC||30,126,000||0.25%||Call||A||0.000%|
|Barclays Bank PLC||10,009,000||1.25%||Call||A||0.000%|
|Bank of Scotland PLC||5,000,000||1.10%||07/01/2014||06/01/2015||A||0.001%|
|Santander UK PLC||5,000,000||0.72%||01/08/2014||26/02/2015||A||0.014%|
|Barclays Bank PLC||20,000,000||0.89%||07/03/2014||05/03/2015||A||0.015%|
|Birmingham City Council||5,000,000||0.52%||08/09/2014||09/03/2015||AA+||0.003%|
|Bank of Scotland PLC||4,000,000||0.65%||12/12/2014||12/03/2015||A||0.017%|
|Santander UK PLC||5,000,000||0.72%||01/08/2014||19/03/2015||A||0.019%|
|Bank of Scotland PLC||10,000,000||0.82%||14/08/2014||26/03/2015||A||0.020%|
|Santander UK PLC||5,000,000||0.73%||31/07/2014||26/03/2015||A||0.020%|
|PCC for Greater Manchester||5,000,000||0.45%||29/12/2014||30/03/2015||AA+||0.004%|
|Lloyds Bank PLC||7,000,000||0.80%||28/11/2014||29/05/2015||A||0.035%|
|Bank of Scotland PLC||10,000,000||1.08%||14/08/2014||13/08/2015||A||0.053%|
|Bank of Scotland PLC||10,000,000||1.08%||18/08/2014||17/08/2015||A||0.054%|
|Lloyds Bank PLC||10,000,000||1.15%||31/10/2014||01/10/2015||A||0.065%|
|Nationwide Building Society||10,000,000||0.98%||17/10/2014||16/10/2015||A||0.069%|
|Bank of Scotland PLC||10,000,000||1.15%||07/11/2014||06/11/2015||A||0.074%|
Above is a table of the £201,120,000 the Liverpool City Region Combined Authority had invested. It’s part of Capita Treasury Solutions’ December 2014 “Monthly Investment Analysis Review” for the Liverpool City Region Combined Authority which is part of the papers for a meeting of the Liverpool City Region Combined Authority Audit Committee and accompanies this report.
Recently there was much press coverage about the Supreme Court decision not to overturn a government decision on how much European money should be given to Merseyside following a court case. In fact this Liverpool Echo article is sub headlined “Row after Government diverted funding from northern England to Scotland and Ireland”.
Yet with a £5 million loan to Midlothian Council in Scotland is Liverpool City Region Combined Authority diverting funding from northern England to Scotland. The three purposes of the Liverpool City Region Combined Authority are transport, economic development and regeneration. A £5 million loan from the Liverpool City Region Combined Authority to the Office of the Police and Crime Commissioner for Manchester doesn’t fall within any of these categories either. Labour controlled Birmingham City Council also received a £5 million loan from the Liverpool City Region Combined Authority.
A total of £166,120,000 was invested by the Liverpool City Region Combined Authority with various banks. You can hear what Labour Councillor Ron Abbey had to say on the subject of banks at the last Council meeting of Wirral Council below:
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He said, “Thank you Mr. Mayor. I wasn’t going to speak but Councillor Green raised an issue that I think needs to be answered when he made the quote “mates’ rates”. Well I’ll remind him what “mates’ rates” is kindly identified by Cllr Gilchrist’s party.
“Mates’ rates” are the sell off of the Royal Mail which cost this country and the taxpayers of Wirral billions of pounds in lost money and so on. The sell off of the East Coast main line, which is now in public ownership, it’s in public for the first time in many years after private ownership, it’s in public ownership they’re now selling that off at mates’ rates according to the figures.
Also can I remind mates’ rates around trying to sell off the Royal Bank of Scotland and the debt that is owed to this country, approximately £70 billion is owed to this country by the banks that they’re trying to sell off?
Also to remind them of mates’ rates behind the avoidance of business tax by their mates having offshore Switzerland bank accounts by the bankers and the banker’s bonuses which will account for billions of pounds this year that is taxpayer’s money because (drowned out by heckling).
Also these mates’ rates only go one way! They go back to the Tory Party via the mates’ rates of lending them money to fund their campaigns, their General Election over £15 million of the mates’ rates provided by the hedge fund bankers, the bankers of this country and other people of that like, of that ilk, who took money out of this country on a grand scale that the train robbers would never have even dreamed of and this is what we have to recognise, the money that is taken away from the people of this country and given to the few that don’t deserve it!”
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