June 20 2013 Latest news:
by Flora Drury
Monday, May 28, 2012
The hole in the council’s pension fund is now so large every Haringey resident would have to pay £1,659 in order to plug the gap, it has been revealed.
A report by the Tax Payers’ Alliance shows Haringey’s pension deficit stands at £374m – giving the council the 11th highest deficit per resident in the country.
Liberal Democrat group finance spokesman Cllr Paul Strang said: “This report should be a wake-up call to the complacent council about the level of debt it is passing on to Haringey residents.
“The Labour council needs to come clean with residents about the hole in its pension fund, and develop a clear plan for getting out of this financial mess of its own making.”
But the Labour group shrugged off the demands saying the issue is common across the country.
Cllr Joe Goldberg, cabinet member for finance, said: “The council has a prudent long-term plan in place to deal with its pension fund deficit and for the Lib Dems to continue to blame the council for the global financial crisis that has hit all large pension funds across the country is ridiculous, even by Liberal Democrat standards.”