Tuesday, July 14, 2015

Emergency Questions to Newham Council about LOBO toxic loans & Parliamentary Select Committee for Local Government


These questions below by Cllr Rokhsana Fiaz OBE were also ruled out of order by the Chair of Council at last nights Newham Council meeting on the same grounds as mine (see post below)

"Please note that in advance of this evening's Full Council, I wish to submit the following questions under Council Procedure Rule 23 (specifically 23.3) pertaining to Agenda Item 14:

1. Notwithstanding the complaint that the Mayor has said the council will make to Channel 4 about last Monday's Dispatches programme, which claimed that Newham residents are being ripped off by banks who have sold toxic loans to Newham Council and are charging excessive interest rates against Newham's LOBO liabilities, will he assure members that these allegations are being taken seriously and will be taking independent expert advice?

2. Will the Mayor and Cabinet Member for Finance support Newham Council's participation in any enquiry by the Parliamentary Select Committee for Local Government, if it decides to investigate the behaviour of the Banks, and advisors, concerning Local Authority LOBOs and possible bank rigging and fraud?

Cllr Rokhsana Fiaz OBE
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