Reply to topic  [ 31 posts ]  Go to page 1, 2, 3  Next
Iceland Refuses To Repay Britain £2.3bn 
Author Message
Legend

Joined: Sun Apr 26, 2009 12:30 pm
Posts: 45931
Location: Belfast
Reply with quote
http://news.sky.com/skynews/Home/Busine ... 4652?f=rss

Oh dear...

_________________
Plain English advice on everything money, purchase and service related:

http://www.moneysavingexpert.com/


Tue Jan 05, 2010 1:17 pm
Profile
What's a life?
User avatar

Joined: Thu Apr 23, 2009 7:26 pm
Posts: 17040
Reply with quote
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...

Send in the bailiffs! I'm having Reykjavik!

Jon


Tue Jan 05, 2010 1:56 pm
Profile
Site Admin
User avatar

Joined: Fri Apr 24, 2009 6:12 am
Posts: 7011
Location: Wiltshire
Reply with quote
jonbwfc wrote:
Send in the bailiffs! I'm having Reykjavik!


You are more than welcome to it :?

_________________
<input type="pickmeup" name="coffee" value="espresso" />


Tue Jan 05, 2010 1:57 pm
Profile WWW
I haven't seen my friends in so long
User avatar

Joined: Fri Apr 24, 2009 7:55 am
Posts: 7935
Location: Manchester.
Reply with quote
jonbwfc wrote:
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...

Send in the bailiffs! I'm having Reykjavik!

Jon


And I'm having those little mini-quiche party pack things that I saw in the advert :shock: :lol:

_________________
okenobi wrote:
John's hot. No denying it. But he's hardly Karen now, is he ;)

John Vella BSc (Hons), PGCE - Still the official forum prankster and crude remarker :P
Sorry :roll:
I'll behave now.
Promise ;)


Tue Jan 05, 2010 2:26 pm
Profile WWW
Spends far too much time on here

Joined: Fri Apr 24, 2009 9:44 pm
Posts: 4860
Reply with quote
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 …

_________________
Hope this helps . . . Steve ...

Nothing known travels faster than light, except bad news ...
HP Pavilion 24" AiO. Ryzen7u. 32GB/1TB M2. Windows 11 Home ...


Tue Jan 05, 2010 3:33 pm
Profile
Doesn't have much of a life
User avatar

Joined: Tue May 05, 2009 5:52 pm
Posts: 1899
Reply with quote
A lot of councils also invested in Icelandic banks. So there is millions of taxpayers pounds at stake.

_________________
Image

My Flickr Page

Now with added ball and chain.


Tue Jan 05, 2010 3:38 pm
Profile
Spends far too much time on here

Joined: Fri Apr 24, 2009 9:44 pm
Posts: 4860
Reply with quote
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 …

_________________
Hope this helps . . . Steve ...

Nothing known travels faster than light, except bad news ...
HP Pavilion 24" AiO. Ryzen7u. 32GB/1TB M2. Windows 11 Home ...


Tue Jan 05, 2010 3:49 pm
Profile
I haven't seen my friends in so long
User avatar

Joined: Tue May 05, 2009 3:29 pm
Posts: 7173
Reply with quote
MrStevenRogers wrote:
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 …


Because charities and local authorities are required to keep some funds in reserve.

_________________
timark_uk wrote:
That's your problem. You need Linux. That'll fix all your problems.
Mark


Tue Jan 05, 2010 4:06 pm
Profile
Legend

Joined: Sun Apr 26, 2009 12:30 pm
Posts: 45931
Location: Belfast
Reply with quote
MrStevenRogers wrote:
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 …


That's precisely my concerns over this issue, and no explanations were forthcoming when it hit, never mind now...

_________________
Plain English advice on everything money, purchase and service related:

http://www.moneysavingexpert.com/


Tue Jan 05, 2010 4:09 pm
Profile
Spends far too much time on here

Joined: Fri Apr 24, 2009 9:44 pm
Posts: 4860
Reply with quote
Linux_User wrote:
MrStevenRogers wrote:
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 …


Because charities and local authorities are required to keep some funds in reserve.


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 …

_________________
Hope this helps . . . Steve ...

Nothing known travels faster than light, except bad news ...
HP Pavilion 24" AiO. Ryzen7u. 32GB/1TB M2. Windows 11 Home ...


Tue Jan 05, 2010 4:51 pm
Profile
I haven't seen my friends in so long
User avatar

Joined: Tue May 05, 2009 3:29 pm
Posts: 7173
Reply with quote
MrStevenRogers wrote:
Linux_User wrote:
MrStevenRogers wrote:
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 …


Because charities and local authorities are required to keep some funds in reserve.


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 …


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.

_________________
timark_uk wrote:
That's your problem. You need Linux. That'll fix all your problems.
Mark


Tue Jan 05, 2010 6:42 pm
Profile
Spends far too much time on here

Joined: Fri Apr 24, 2009 9:44 pm
Posts: 4860
Reply with quote
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 …

_________________
Hope this helps . . . Steve ...

Nothing known travels faster than light, except bad news ...
HP Pavilion 24" AiO. Ryzen7u. 32GB/1TB M2. Windows 11 Home ...


Tue Jan 05, 2010 7:36 pm
Profile
I haven't seen my friends in so long
User avatar

Joined: Tue May 05, 2009 3:29 pm
Posts: 7173
Reply with quote
MrStevenRogers wrote:
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)


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...

_________________
timark_uk wrote:
That's your problem. You need Linux. That'll fix all your problems.
Mark


Tue Jan 05, 2010 10:15 pm
Profile
I haven't seen my friends in so long
User avatar

Joined: Thu Apr 23, 2009 6:36 pm
Posts: 5150
Location: /dev/tty0
Reply with quote
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!?


Wed Jan 06, 2010 12:03 am
Profile WWW
I haven't seen my friends in so long
User avatar

Joined: Tue May 05, 2009 3:29 pm
Posts: 7173
Reply with quote
forquare1 wrote:
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!?


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.

_________________
timark_uk wrote:
That's your problem. You need Linux. That'll fix all your problems.
Mark


Wed Jan 06, 2010 12:10 am
Profile
Display posts from previous:  Sort by  
Reply to topic   [ 31 posts ]  Go to page 1, 2, 3  Next

Who is online

Users browsing this forum: No registered users and 7 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum

Search for:
Jump to:  
Powered by phpBB® Forum Software © phpBB Group
Designed by ST Software.