Council's Wonga shares

Newcastle City Council admits its pension fund has shares in Wonga, despite the council's vociferous criticism of the company.

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Full report: Local councils invest £250,000 in controversial payday loans company

Newcastle City Council is one of several local authorities that have invested in the payday loans company, Wonga, despite it campaigning against the company for years.

Local councils have invested nearly a quarter of a million pounds of their pension funds with the controversial company.

Newcastle's council leader has told Tyne Tees that he would be getting fund managers to review the portfolio.

But as Dan Ashby reports, it may not be that simple.

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