Mike Cox's Leader's Column - November 2008

2.24.00pm GMT Fri 31st Oct 2008

We live in interesting times!

The fluctuations of the stock market, currencies, and oil prices have made the last few months a roller coaster to observers never mind those who work in these sectors. The greed and arrogance of a relatively small number of people who profited out of the naivety of others nearly brought the whole edifice of our financial system to its knees.

Such naivety even runs to Councils (of all political persuasions, but mostly Conservative) who saw fit to invest millions of our tax payers money in foreign bank accounts to earn a fraction extra interest. The first fiduciary duty of any Council should be to protect our assets. Investing our cash should be risk free activity yet in order to get our money back we have had to rely on Gordon Brown invoking anti terrorist legislation to seize Icelandic assets. Where will it all end? A recession I have no doubt. If the pundits are to be believed it will be a long and difficult one.

Such a recession should call for a radical rethink of what we as a Council do to help those most in need. At the last Council meeting in September I put forward a motion urging the Cabinet to do just that. Instead the motion was completely changed to give the Cabinet another pat on the back. They can do that they have the numbers!

The situation since then has become far worse. There are talented people on the Council from all parties and it is time petty differences were put aside and a genuine dialogue entered into as to how the Council can best serve the residents in these difficult times.

Mike Cox

Councillor for Ruislip Manor

Leader of the Hillingdon Lib Dem group

Parliamentary spokesman for Uxbridge and South Ruislip