When it started to become clear that local authorities had invested money with Icelandic banks, we felt that we should make an announcement to our Full Council meeting that night, to make clear that none of our money was involved.
In discussing this we also began to appreciate that local small businesses would be struggling in the current climate. Many of our administration run and work in small to medium sized businesses and we appreciated how cash flow can be an issue while other companies are trying to protect their own by not paying promptly.
As the local authority we are there to help our residents and provide them with good services. We also believe that involves ensuring the infrastructure is in place to have a flourishing community. To do that we need employment and local business to thrive. This will not happen in the current climate if we do not play our part in ensuring the survival of these businesses. In an area such as Brentwood, we have a large number of retail and service industry companies, who will survive only if they have an offer to appeal to residents and if they can keep a healthy cash flow.
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