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| Version 1 | Version 2 |
|---|---|
| Talks on retrieving Iceland cash | Talks on retrieving Iceland cash |
| (10 minutes later) | |
| Scottish Secretary Jim Murphy will hold talks with local councils and the UK Treasury to discuss how to retrieve funds stranded in Icelandic banks. | Scottish Secretary Jim Murphy will hold talks with local councils and the UK Treasury to discuss how to retrieve funds stranded in Icelandic banks. |
| Local authorities across the UK, including several in Scotland, had invested a total of £858.3m in the banks, which has since been frozen. | Local authorities across the UK, including several in Scotland, had invested a total of £858.3m in the banks, which has since been frozen. |
| Scottish councils were not hit as hard as those in England. | Scottish councils were not hit as hard as those in England. |
| Earlier this month a Treasury spokesman said any assistance for Scottish councils would come from Holyrood. | Earlier this month a Treasury spokesman said any assistance for Scottish councils would come from Holyrood. |
| But, while the sums of money involved were considerably less, there was still concern over when any of the investments would be returned. | But, while the sums of money involved were considerably less, there was still concern over when any of the investments would be returned. |
| Councils in North Ayrshire, Scottish Borders Council, South Lanarkshire, East Ayrshire, South Ayrshire, Moray, Perth and Kinross and East Renfrewshire held funds with Icelandic banks. | |
| It also emerged that a £120m project to build or refurbish 10 Aberdeen schools was being funded by money from the collapsed Landsbanki bank. | |
| Mr Murphy will broker a meeting with local authority umbrella group Cosla and Treasury officials later. | Mr Murphy will broker a meeting with local authority umbrella group Cosla and Treasury officials later. |
| It is also envisaged that Cosla could join discussions with the Local Government Association (LGA) in England when it holds talks with the Treasury. | It is also envisaged that Cosla could join discussions with the Local Government Association (LGA) in England when it holds talks with the Treasury. |
| The government has frozen the UK assets of Icelandic bank Landsbanki, saying local authorities would benefit from this. | The government has frozen the UK assets of Icelandic bank Landsbanki, saying local authorities would benefit from this. |