BANKERS came in for a rough ride as the leader of Hampshire County Council outlined some of the cutbacks in store.

Cllr Ken Thornber accused them of leaving authorities like the county council in a position where cuts had to be made.

He said: “We are in this position because of the greed and stupidity of our bankers.”

He added: “Bankers have brought us to this shameful situation and the coalition government now has to deal with it.”

Speaking at the full council meeting in Winchester on Thursday (November 25) he said they would need to reduce staff costs.

The authority has already announced that dozens of posts will go in the children’s services department.

Employees across the authority are also being invited to take voluntary redundancy, with more job cuts expected.

Further cost cutting will include cutting back on overtime payments and the fuel mileage rate for travel expenses, said Cllr Thornber.

He added that councillors’ allowances would remain frozen this year and probably next year as well.