Administration not up to the job - all Party report condemns Icelandic investments

8.40.00pm BST (GMT +0100) Tue 7th Apr 2009

Cllr Jack Cohen says the administration is not up to the job

Barnet Liberal Democrats have welcomed the findings of an all party enquiry into the Council's investments in Icelandic Banks, but are condemning Conservative attempts to water down the report and shift the blame on to others.

Councillor Jack Cohen, Leader of Barnet Liberal Democrats said "This Report is very important. It is far ranging and is the result of thorough investigations by Councillors of all three parties. The main finding of the Report is crystal clear: the Council should not have invested in Icelandic Banks. This is what we have said all along. However to add insult to injury Conservative members of the Scrutiny Committee are now attempting to rewrite history by altering other key findings."

Cllr Cohen goes on to point out "This is the clearest indicator yet that the current administration is not up to the job. The findings of the Review were implicit in pointing a finger at a lack of controls and oversight especially by the Administration. No amount of playing around with words can alter this fact."