Don’t play the blame game

THESE are strange times.

Whilst half of the county is following the business news from behind the sofa, the other half seems to be asking why the City Council, amongst others, weren’t keeping their money under the bed.

There are many voices being raised in this debate, but the ones to avoid are those who are all too willing to point the finger.

Of course, the news that £42 million of Nottingham City Council’s assets invested in Icelandic banks was being frozen was a huge disappointment and an even bigger fiscal burden at a time when the camel’s starting to feel the weight of the straw.

However, this is not a time to play the blame game, and those with fiscal responsibilities in high places can sleep with a clear conscience.

Large scale financial investments are always a slight gamble, but the City Council always played by the rules and were only trying to make the most of each and every tax payer’s investment – which in turn prevented further tax rises that would really bring dissenters out in force.

News is promising that the money will be returned via the failed bank’s assets and most people in the City won’t even notice a change in services or bills.

The Council must also be applauded for acting promptly in ensuring after the news broke, no further assets were invested in any other foreign institutions – it’s all Government-assured British banks from here on out.

Perhaps it is time to rest easy, at least until the next storm breaks.

Shuffling the pack

It’s been a big weekend for a couple of Notts MP’s as news of Gordon Brown’s cabinet reshuffle dripped its way through the news wires.

Former Chief Whip and Ashfield MP, Geoff Hoon, has taken a precarious sideways step into the role of Transport Secretary – a position renowned for having the consistency of a British Rail timetable.

With the current economic climate forcing the Treasury to tighten their collective belts in all areas it’ll be an interesting challenge to see how Hoon deals with the challenges of a nation eagerly awaiting their transport system to arrive in the 21st Century.

In other news, Gedling MP Vernon Coaker stepped into the role of Police Minister. It may not be as glamorous as some of his colleagues more well-known titles, but the hiring is a well earned justification of some of the work Coaker has done both in Westminster and in tackling crime and drugs in Gedling.

He’s clearly a man with a plan – as this recent interview with The Guardian shows – and he’ll bring welcome attention to some specific issues ignored under previous ministers.

As for the workings of Geoff Hoon’s mind? Keep an eye out for this week’s Question Time debate, on which Hoon will be part of the panel.