COUNCILLORS have “nodded through” multi-million pound investment programmes over the years, the leader of Lancashire County Council has admitted.

County Hall is currently in danger of losing £10million it has tied up in the Icelandic Landsbanki bank.

Yesterday councillors were presented with “minimal” changes put forward to avoid a repeat scenario, as reported in Thursday’s Lancashire Telegraph.

Council leader Hazel Harding said: “I think we have all sat there at council meetings and nodded through treasury management reports.

“Now we all understand more about these things.”