Freedom of information response

Thurrock Council Investments

Publication date: 
Thursday 22 February 2024

How much money, if any, does Thurrock Council have invested in funds related to the hedge fund Altana?
How much money, if any, does Thurrock Council have invested in Redwood Bank?


In issuing our response the Council has applied S43 of the Freedom of Information Act.  Information is exempt information if its disclosure under this Act would, or would be likely to prejudice the commercial interests of any person (including the public authority holding it).  A commercial interest relates to a person’s ability to successfully participate in a commercial activity, i.e. the purchase and the sale of goods or services.  The reasons for this have been captured below under the public interest test section.

Public Interest Test:

The council have considered the public interest test in relation to section 43 (2) in releasing the information in scope of your request. The outcome of this is below.

  • Public interest in disclosure:
  • Public interest to maintain the exemption:
    • Releasing cost figures for a specific service may affect the company’s ability to commercially tender for the same service in the future.
    • Companies should be able to compete fairly on a level playing field. If the details of costs for services are publicly available then this would put the current service provider at a commercial disadvantage should a competitor be made aware of the costs charged.
  • It will hinder the ongoing working relationship between the council and the current service provider.

Based on the above, it is the Council’s view that there is a stronger public interest to maintain the use of the exemption for section 43 (2).

Request reference:
FOI 13438