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Written question asked by Keith Vaz (Labour) on Friday, 17 October 2008, in the House of Commons. It was due for an answer on Tuesday, 21 October 2008. It was answered by Lord Coaker (Labour) on Thursday, 30 October 2008 on behalf of the Home Office.

Police: Bank Services

Question
To ask the Secretary of State for the Home Department (1) what percentage of the budget of each police authority in England and Wales was held in Icelandic bank accounts before the recent collapse of several Icelandic banks;
Answer

The information requested is set out in the following table.The Government have agreed an urgent plan of action with local authorities, including police authorities, for those facing funding difficulties as a result of the closure of several Icelandic banks. My officials are in close touch with the Association of Police Authorities about how we can best provide assistance to their members. We will judge what advice and support is needed on a case by case basis.Guidance is provided by CLG which does not provide a list of individual banks or institutions. It is up to individual authorities to judge what a prudent investment might or might not be. The guidance says that local authorities should prioritise security and liquidity of investments.

Police authority investments in Icelandic banks
Police authority Budget requirement 2008-09 (£ million) Investments (£ million) Invested of budget (Percentage)
Avon and Somerset 259.47 0.00 0.00
Bedfordshire 96.06 0.00 0.00
Cambridgeshire 120.65 0.00 0.00
Cheshire 168.06 0.00 0.00
Cleveland 124.62 0.00 0.00
Cumbria 97.40 0.00 0.00
Derbyshire 157.22 0.00 0.00
Devon and Cornwall 268.08 0.00 0.00
Dorset 111.79 7.00 6.26
Durham 116.12 0.00 0.00
Dyfed-Powys 86.96 2.00 2.30
Essex 251.08 0.00 0.00
Gloucestershire 99.14 0.00 0.00
Greater Manchester 544.93 0.00 0.00
Gwent 114.30 1.00 0.87
Hampshire 294.19 0.00 0.00
Hertfordshire 178.22 3.00 1.68
Humberside 169.70 5.75 3.39
Kent 266.88 11.10 4.16
Lancashire 262.07 0.67 0.26
Leicestershire 164.70 0.00 0.00
Lincolnshire 100.64 0.00 0.00
Merseyside 317.10 0.00 0.00
Metropolitan 2,595.00 30.00 1.16
Norfolk 138.29 0.00 0.00
North Wales 129.42 0.00 0.00
Northamptonshire 114.80 0.00 0.00
Northumbria 277.82 3.50 1.26
North Yorkshire 132.21 0.00 0.00
Nottinghamshire 184.69 0.00 0.00
South Wales 240.30 7.00 2.91
South Yorkshire 246.61 0.00 0.00
Staffordshire 176.13 0.00 0.00
Suffolk 106.86 0.00 0.00
Surrey 191.50 1.50 0.78
Sussex 245.08 6.80 2.77
Thames Valley 356.10 5.00 1.40
Warwickshire 85.41 0.00 0.00
West Mercia 190.68 0.00 0.00
West Midlands 543.44 5.40 0.99
West Yorkshire 410.97 6.00 1.46
Wiltshire 99.28 0.00 0.00
Total England and Wales 10,833.99 95.72 0.88
Sources:
1. English Police Authority Budgets: DCLG
2. Welsh Police Authority Budgets: WAG
3. Investments in Icelandic Banks: Association of Police Authorities.

Secondary information

Type
Written question
Reference
481 c1252-4W;481 c1250-2W; 229038
Session
2007-08
Subjects
Bank services Police
Link
View this Written question on www.publications.parliament.uk