Ernie Clark. Hilperton Division, Wiltshire Council.

'Who will watch the watchers themselves?'

The Audit Commission was left red-faced after it emerged that, in October last year, it had £10m of our money 'invested' with failed Icelandic banks. Quite why this non profit-making quango had £10m to spare in the first place has never been explained.

However, this 'oversight' didn't deter the spending watchdog from splashing-out cash on a jolly fine Christmas 'do'.

It recently emerged that the watchdog, which claims that it 'promotes value-for-money for taxpayers', spent £60k on its seasonal bash.

Isn't it good to see that the custodian of the public purse leads by example in such austere financial times?

What next, I wonder? A hefty pay rise for those in charge because they're so good at their job?