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| pcernie wrote: http://news.sky.com/skynews/Home/Business/Iceland-Financial-Crisis-Government-Refuses-To-Repay-Britain-23bn-Lost-By-British-Savers/Article/201001115514652?f=rss Oh dear... | |
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Send in the bailiffs! I'm having Reykjavik!
Jon
| x404.co.uk http://www.x404.co.uk/forum/ |
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| Iceland Refuses To Repay Britain £2.3bn http://www.x404.co.uk/forum/viewtopic.php?f=19&t=5307 |
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| Author: | pcernie [ Tue Jan 05, 2010 1:17 pm ] |
| Post subject: | Iceland Refuses To Repay Britain £2.3bn |
http://news.sky.com/skynews/Home/Busine ... 4652?f=rss Oh dear... |
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| Author: | jonbwfc [ Tue Jan 05, 2010 1:56 pm ] | |||||||||
| Post subject: | Re: Iceland Refuses To Repay Britain £2.3bn | |||||||||
Send in the bailiffs! I'm having Reykjavik! Jon |
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| Author: | AlunD [ Tue Jan 05, 2010 1:57 pm ] | |||||||||
| Post subject: | Re: Iceland Refuses To Repay Britain £2.3bn | |||||||||
You are more than welcome to it 
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| Author: | John_Vella [ Tue Jan 05, 2010 2:26 pm ] | ||||||||||||||||||
| Post subject: | Re: Iceland Refuses To Repay Britain £2.3bn | ||||||||||||||||||
And I'm having those little mini-quiche party pack things that I saw in the advert  
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| Author: | MrStevenRogers [ Tue Jan 05, 2010 3:33 pm ] |
| Post subject: | Re: Iceland Refuses To Repay Britain £2.3bn |
i make the decision right why should the Icelandic taxpayer have to pay for the failure of a 'private' bank and the if anybody lost any money because of this, sorry and all that but, that's part of the risk in investing overseas especially after the BOE warned about investment in Iceland in 2006/7 … |
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| Author: | james016 [ Tue Jan 05, 2010 3:38 pm ] |
| Post subject: | Re: Iceland Refuses To Repay Britain £2.3bn |
A lot of councils also invested in Icelandic banks. So there is millions of taxpayers pounds at stake. |
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| Author: | MrStevenRogers [ Tue Jan 05, 2010 3:49 pm ] |
| Post subject: | Re: Iceland Refuses To Repay Britain £2.3bn |
why was our tax money invested overseas when they can't repair the roads or have street lighting switched off because of lack of funds they should be using our tax monies for the purpose that it was intended services for the tax payer not high interest overseas accounts to supply cash for their pensions … |
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| Author: | Linux_User [ Tue Jan 05, 2010 4:06 pm ] | |||||||||
| Post subject: | Re: Iceland Refuses To Repay Britain £2.3bn | |||||||||
Because charities and local authorities are required to keep some funds in reserve. |
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| Author: | pcernie [ Tue Jan 05, 2010 4:09 pm ] | |||||||||
| Post subject: | Re: Iceland Refuses To Repay Britain £2.3bn | |||||||||
That's precisely my concerns over this issue, and no explanations were forthcoming when it hit, never mind now... |
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| Author: | MrStevenRogers [ Tue Jan 05, 2010 4:51 pm ] | ||||||||||||||||||
| Post subject: | Re: Iceland Refuses To Repay Britain £2.3bn | ||||||||||||||||||
and keeping these funds within the UK would have made them accessible when required or needed and there is a lot more of our taxpayers money invested overseas in country's other then Iceland … |
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| Author: | Linux_User [ Tue Jan 05, 2010 6:42 pm ] | |||||||||||||||||||||||||||
| Post subject: | Re: Iceland Refuses To Repay Britain £2.3bn | |||||||||||||||||||||||||||
Yes, and in many cases the return on the money has allowed local authorities to invest in services that would not exist otherwise. You can't have it good all the time, sometimes things will go wrong. If you banned local authorities from investing their money then it will not earn any return at all, and thus services will be affected. The only restriction I'd even consider imposing on the investment of public money is that it's only invested within the European Union. |
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| Author: | MrStevenRogers [ Tue Jan 05, 2010 7:36 pm ] |
| Post subject: | Re: Iceland Refuses To Repay Britain £2.3bn |
since when has 'investment' of taxpayers money ever returned any interest for the taxpayer investment of taxpayers money is only used to enhance the people who have access to that investment and the interest that is paid for that is not returned to the taxpayer (ie. pension funds) if that was the case overseas investment funds would have decreased 'council tax' but the reverse is true the more that was taken out of the system and invested overseas the greater the burden that was placed upon the taxpayer if overseas investments was for the benefit of the taxpayer, the taxpayer would be able to pay less tax … but sadly as the councils have lost 'loads of money' invested overseas then tax bills will rise, some investment even better, the return on that investment … |
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| Author: | Linux_User [ Tue Jan 05, 2010 10:15 pm ] | |||||||||
| Post subject: | Re: Iceland Refuses To Repay Britain £2.3bn | |||||||||
Public sector investments DO return money, the money gained goes back to taxpayer through better funded services. We're not talking about enough money to have a significant impact on council tax - councils SPEND most of their budget, believe it or not. It took the annexation of a quarter of the globe to abolish income tax in Britain. Therefore similar maths would apply if you wanted to abolish council tax in your county... |
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| Author: | forquare1 [ Wed Jan 06, 2010 12:03 am ] |
| Post subject: | Re: Iceland Refuses To Repay Britain £2.3bn |
I seem to recall the county of Wiltshire holding something like £10 million in Icelandic bank account. Sorry, I had to share one book between four at school, why was this money held up in some bank account!? |
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| Author: | Linux_User [ Wed Jan 06, 2010 12:10 am ] | |||||||||
| Post subject: | Re: Iceland Refuses To Repay Britain £2.3bn | |||||||||
Local Authorities are legally required to keep some money in reserve. Secondly, most of their budget goes on staff, not equipment. Thirdly, Wiltshire County Council (before the Unitary Authority took over) spent £300 million in the 2008/2009 financial year (and that's just the county, I have no idea if your £10 million figure also includes the ex-District Councils). Therefore £10 million is not really that much. |
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