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23 October 2008 10:01 GMT / By Katie Scott
Swindon has become the first town in the UK to do away with fixed-point speed cameras.
In a move that will see Jeremy Clarkson literally sobbing for joy, Swindon is soon to be speed camera free (though we wonder how often the Top Gear presenter goes to the town).
The nine members of the cabinet for the Tory-run council have voted unanimously to withdraw from the Wiltshire and Swindon Safety Camera Partnership.
This move comes 12 months after Peter Greenhalgh, councillor for highways in Swindon, made the suggestion.
In particular, Greenhalgh suggested that the council should protest about the fact that his council had to pay for the upkeep of the cameras but any speeding fines went to central government.
Speaking after the vote, Greenhalgh said: 'I understand we are the first council in Britain to get rid of fixed-point speed cameras.'
Mr Greenhalgh added: 'We will be working very closely with our partners, including police in the road safety partnership to deliver a plan that reduced the number of people being killed on the roads in Swindon.'
The councillor added that removing he cameras doesn't mean motorists will get away with speeding

Global Losses
Companies around the world are posting losses on foreign- exchange hedges amid record high volatility in currency markets. In Brazil, a pulp producer, a poultry company and a cement maker have reported $2.3 billion in losses on currency derivatives. Korean companies may lose as much as $2.2 billion on such contracts, according to Standard - Poor's.
Central banks and governments are pumping unprecedented amounts of cash into the financial system and banks that lost money on derivatives and asset-backed securities. Citic Group, the company's parent, is controlled by the State Council, China's cabinet.
Citic Pacific's largest position was in so-called Australian dollar target redemption forwards, according to the company, which didn't elaborate. Such over-the-counter contracts aren't traded on an exchange. They differ from typical forwards, or agreements to buy and sell assets at current prices for delivery at a specified time and date, in that they are customized for clients

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