Investment option refused by Berwick Town Council

Councillors have decided against opening discussions with the CCLA (Churches, Charities & Local Authorities) over potential investments.

Monday, 22nd January 2018, 7:36 am

Town clerk Gareth Davies invited members to decide whether to open dialogue with the mutually-owned firm of investment managers, owned by LAMIT (Local Authorities Mutual Investment Trust), the Church of England (Central Board of Finance) Investment Fund and the Charities Investment Fund (COIF). He said it was a potential opportunity to maximise investment income for the council at a time when high street bank interest rates remain low.

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The idea was defeated on the casting vote of budget committee chairman Coun Anne Forbes but potential investment options will still be investigated.