Ernie Clark. Hilperton Division, Wiltshire Council.

"Don't panic", the administration knows what it's doing - apparently.

Wiltshire Council is £205million in debt.

A report for the Council meeting next Tuesday reveals that WC has net debts of £128m. Total debts of £205m are partially offset by investments of £77m.

WC (i.e. the council tax payer) is paying circa 4.3% interest on the debts.

Of the £12m 'invested' with Icelandic banks by previous Conservative administrations, only about £4m has been recovered.

The council says it will continue to invest money abroad, but only if those institutions have a long-term credit rating of at least AA. So that's all right then...