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P165 CEEFAX 165 Thu 24 Jan 22:59/30   "CONFUSION" AFTER  RATE SWAP RULING Labour says the ruling that council rate swaps are illegal leaves the law in "a considerable state of confusion". Shadow environment secretary Bryan Gould said the Government must now act to regularise the position in the interest of banks and local councils. Liberal Democrat local government spokesman Ronnie Fearn said the decision was "regrettable" because it eroded the powers of local government. The British Bankers' Association said its members would take steps, including legal action, to defend their interests 101 War headlines 130 Gulf military Next News Headlines GulfIndex Newswatch